Shale drilling This week’s Baker Hughes report shows an 11-rig increase in the United States oil count, marking 17 straight weeks of no-decline in the active rig figure. The streak suggests a strong recovery for the U.S. drilling sector, which was hit hard when oil prices dropped for the first time two years ago due to a global supply glut. The last time the Houston-based oilfield services company reported an oil-rig count this high was in its February 5th report, meaning the figure has reached an eight-month record. Still, the oil rig count sits 151 rigs below the 594-rig figure reported during the same period last year. (Click to enlarge) Image courtesy: Zerohedge.com “Apparently $45/50 oil is high enough for shale producers to come storming back in,” Zero Hedge said . The gas count saw a three-rig increase to 108 rigs, but is still 85 rigs lower than the […]