Eagle Ford rig Houston oilfield services company Baker Hughes, Inc. showed a four-rig increase in the United States oil count, marking 16 straight weeks of no-decline in the active oil rig figure and signaling the continuation of a strong recovery for the country’s drilling activity. The oil rig count now stands at an eight-month high at 432 sites – but still 163 rigs lower than the 595 figure that we saw one year ago. Last week, the US oil rig count rose 3 to 428, while the gas rig count fell 2 to 94. The number of active gas rigs rose by eleven, the biggest jump since late January. The gas rig total stood at 105, which is a 10-month high, but 87 rigs short of last year’s 192. Zero Hedge predicts the trend of the increasing number of rigs will stop soon, because the counts have tracked the […]