U.S. drillers add oil gas rigs for 15 successive months

U.S. energy firms added oil and natural gas rigs for a 15 successive months in October as oil prices soared to fresh highs, prompting some drillers to return to the drilling sites.

The oil and gas rig count, an early indicator of future output, rose two to 544 in the week to 29 October, its highest since April 2020, energy services firm Baker Hughes Co (BKR.N) said in its closely followed report on Friday.

That was the seventh time the rig count increased in the past eight weeks. The total rig count was still up 248, or 84%, over this time last year.

For the month, the number of active oil and gas rigs rose by 23, putting the total count up for a 15th month in a row for the first time since August 2010 when it rose for a record 15 months.

U.S. oil rigs rose one to 444 this week, while gas rigs also gained one to 100, their highest since mid-September.