U.S. drilling rig count reaches 599 after third weekly gain

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US energy firms added rigs for a third consecutive week, marking the first such streak since July, Baker Hughes said.

U.S. energy firms added four oil and gas rigs in the week ended September 25, bringing the total to 599, according to Baker Hughes data reported by BOE Report. It was the third consecutive weekly increase and the highest combined count since May 2024. The total stood 50 rigs, or 9%, above its level a year earlier. Oil rigs rose by three to 455, gas rigs increased by one to 135, and miscellaneous rigs held at nine.

In the Permian Basin of West Texas and eastern New Mexico, the count increased by one to 270, its highest since June 2025. Oklahoma also added one rig, reaching 52, its highest count since May 2025. Rig counts provide an early indication of drilling activity and potential future production.

The report also cited U.S. Energy Information Administration projections for 2026. Crude oil output is expected to reach 13.8 million barrels per day, compared with 13.7 million in 2025. Natural gas output is projected to rise from 107.6 billion to 111.7 billion cubic feet per day, with demand for electricity used by data centers and for liquefied natural gas exports contributing to the outlook.

Source: BOE Report

Read the full original article here BOE Report

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