Rig count increase sign of industry recovery


U.S. drillers have added more than 100 rigs so far this year, another sign of the industry’s recovery from the pandemic-driven oil bust, The Houston Chronicle reports.

Drillers put two additional rigs into operation this week, bringing the total rig count to 455, according to oil-field services firm Baker Hughes and energy research firm Enverus.

A year ago, there were 318 rigs operating nationally. The rig count, a leading indicator of the nation’s oil and gas production, has been climbing in recent months after bottoming out at 244 in August. Read the full story.