The number of rigs drilling for oil and gas in the U.S. is continuing to tick up, albeit at a slow pace.
The amount of oil-seeking rigs grew by one from last week, while the natural gas-drilling rigs increased by two, according to weekly data from Baker Hughes, a GE company.
The two gas rigs were added in Pennsylvania, while Oklahoma tacked on three rigs, Alaska grew by two and Texas added one. Those gains were partially offset by declines in Colorado and North Dakota.
There are now an even 800 rigs drilling for oil with more than half of them – 434 – situated in West Texas’ and New Mexico’s booming Permian Basin. There are 181 gas-seeking rigs, creating a total rig count of 981.
The total count is up from an all-time low of 404 rigs in May 2016.
The next most active area after the Permian is South Texas’ Eagle Ford shale with 70 rigs and then Oklahoma’s Cana-Woodford shale with 68 rigs. Texas is home to 483 rigs overall, while Oklahoma is second with 124 rigs. New Mexico is next with 88 rigs.
Despite this week’s jump, the oil rig count is down 50 percent from its peak of 1,609 in October 2014, before oil prices began plummeting.
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