The U.S. rig count posted its seventh straight week of gains last week after adding 17 rigs.

According to Baker Hughes, the number of oil and gas rigs operating in the United States climbed to 481 rigs as of August 12 compared to 884 rigs a year ago.

The oil rig count rose to 396 after adding 15 rigs, down from 672 a year ago.

Gas drillers added two rigs last week, pushing to rig count up to 83 compared to 211 rigs a year ago.

The directional rig count held steady from last week at 44 while the horizontal rig count climbed by 13 to 375 rigs, down from 676 rigs during the same week last year.

The vertical rig count rose by four to 62 rigs compared to 127 rigs a year ago.

Texas added thirteen rigs last week, the largest gain of any major producing state, with the Permian Basin accounting for 12 of the rig additions.

Colorado, New Mexico, North Dakota, Ohio and Utah each added one rig a piece last week.

Rig counts in Alaska, Arkansas, Kansas, Louisiana, Oklahoma, Pennsylvania, West Virginia and Wyoming held steady from last week.

The Eagle Ford and Haynesville basins lost one rig each last week.

The Granite Wash, Utica and Williston basins added one rig a piece last week.

The Canadian rig count rose to 126 rigs after adding five oil rigs and losing one miscellaneous rig last week, down from 211 rigs a year ago.

The rig count in the Gulf Of Mexico held steady from last week at 17 compared to 34 rigs last year.


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