U.S. Rig Count Ticks Higher As Permian Drillers Lead The Charge

The number of total active drilling rigs in the United States rose by 3 this week, as WTI trades at more than $100.90 per barrel. The total rig count increased to 673 this week—243 rigs higher than the rig count this time in 2021. Oil rigs in the United States rose by 2 rigs to 533, while gas rigs rose by 1 to 138.

Miscellaneous rigs stayed the same. While drilling activity has picked up in the United States over the last few months, U.S. production—a corollary to drilling rigs but with months of lag—has not. While Americans bemoan…