BAKER HUGHES COMPANY

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U.S. Oil-Rig Count Rises by 12 in Latest Week, Baker Hughes Says

10/15/2021 | 11:34am

By Matt Grossman

The number of rigs drilling for oil in the U.S. climbed by 12 in the latest week to 445, according to oil-field services company Baker Hughes Co.

The oil-rig count was 240 higher than a year earlier, when there were 205 active rigs, Baker Hughes said Friday.

The nation's gas-rig count ticked down by one to 98 in the latest week, and was up by 24 compared with the 74 rigs active in the same week last year.

The U.S. offshore-rig count stood at 12 this week, up by one from last week. This time last year, there were 14 active offshore rigs.

The U.S. oil-rig count is viewed as a proxy for activity in the sector. The metric peaked at 1,609 in October 2014.

Global oil benchmark Brent crude rose to about $84.66 a barrel Friday. West Texas Intermediate crude, the U.S. benchmark, rose to about $82.06 a barrel.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

10-15-21 1334ET

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