Drilling activity rose in the U.S. this week, reversing the last four weeks of decline according to the latest edition of Baker Hughes’ Rig Count.

A net nine rigs came online in the week, meaning there are 1,080 rigs active in the country. This is only slightly below the post-downturn high of 1,082 rigs seen in mid-November and counteracts almost all the past four weeks of declining activity.

Eight land-based rigs came online in the week, while one offshore rig started operations. This means 1,053 land rigs are operating, compared to three inland waters and 24 offshore rigs.

Activity reversed the shift to gas last week, with ten oil-targeting rigs coming online while one gas-targeting rig shut down. There are currently 883 oil and ...

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