Energy firms add rigs for fourth week in a row, says Baker Hughes

Energy firms add rigs for a fourth week in a row, according to Baker Hughes, signaling a cautious recovery in U.S. upstream activity. Baker Hughes said the total oil and gas rig count rose by one to 581 for the week ending July 10, the highest level since May 2025, after a roughly 49-minute delay in releasing its report. The increase brought the rig count to 44 rigs, or 8%, above the same period last year. Oil rigs were unchanged at 445, while gas rigs held at 126; miscellaneous rigs rose to 10. In Eagle Ford shale in South Texas, rigs increased by three to 47, and in Texas overall the count rose to 272, the most since May 2025. The article links the broader production outlook to EIA projections for higher oil and gas output in 2026.