The rig count has increased once again, hitting levels not seen since April 2020. Russia’s invasion of Ukraine has only added to the demand for drilling, with the rig count climbing by 48 in nine weeks. Oil rigs climbed by three this week while gas rigs remained the same. The number of total active drilling rigs in the United States rose by 3 this week, after an increase of 2 rigs in the week prior, according to new data from Baker Hughes published on Friday. The total rig count increased to 698 this week—258 rigs higher than the rig count this time in 2021 and the highest count since April 2020. Drilling has picked up substantially since the Russia invasion, adding 48 rigs over the last nine weeks. Oil rigs in the United States rose this week by 3 rigs to 552, while gas rigs stayed the same at […]