Both market signals and world leaders have been calling on the industry to ramp up...
The state’s rig count jumped by double digits as energy companies responded to soaring prices and pleas from federal leaders to increase production.The state’s rig count jumped by double digits as energy companies responded to soaring prices andThe number of drilling rigs operating nationally climbed by 13 to 663 this week, according to oil field services company Baker Hughes. Most of the production growth came from Texas, which added 12 rigs.
Energy companies have added 261 rigs nationally over the past year, a 62 percent increase from 402 during the same week in 2021.and world leaders have been calling on the industry to ramp up production. Oil’s U.S. benchmark settled at $109.33 a barrel Friday, up 3 percent.
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