U.S. energy companies added four oil rigs in the week ending Oct.19, bringing the total count to 873, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count rose by one rig to 194 for the week, compared to 177 rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is higher than a year ago when 736 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending Oct. 19

Week-on-week change

YoY

Oil

743

869

873

+4

130+

Gas

185

193

194

+1

09+

Oil & Gas

928

1062

1067

+5

139+

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