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The Elevation Resources drilling rig is shown at the Permian Basin drilling site in Andrews County, Texas, U.S. in this photo taken May 16, 2016. REUTERS/Ann Saphir
July 9 (Reuters) – U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers to return to the wellpad.
The oil and gas rig count, an early indicator of future output, rose 4 to 479 in the week to July 9, its highest since April 2020, energy services firm Baker Hughes Co (BKR.N) said in its closely followed report on Friday. , ,
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COMMENTARY: Taxes and Regulations Will Increase the Cost of Producing New Energy In Alberta, Making it Less Competitive Than the US – Jack Mintz