By Scott DiSavino
April 28 (Reuters) - U.S. energy firms this week added
oil and natural gas rigs for a second week in a row for the
first time since March, keeping the count steady in April,
energy services firm Baker Hughes Co said in its closely
followed report on Friday.
The oil and gas rig count, an early indicator of future
output, rose two to 755 in the week to April 28. Baker Hughes said that puts the total rig count up 57, or
8%, over this time last year.
Oil rigs were unchanged this week at 591, but inched
down by one in April in their fifth monthly decline.
Gas rigs rose by two to 161 this week, while edging up
one in April in their second monthly rise.
U.S. crude production fell in February to 12.5 million
barrels per day (bpd), its lowest since December, while implied
fuel demand rose to nearly 20 million bpd, its highest since
November, according to the Energy Information Administration
(EIA).
U.S. oil futures were down about 5% so far this year
after gaining about 7% in 2022. U.S. gas futures ,
meanwhile, have plunged about 47% so far this year after rising
about 20% last year.
Meanwhile, the No. 2 U.S. producer Chevron Corp on
Friday posted profits for the first quarter despite lower energy
prices and oil and gas production.
The top U.S. producer Exxon Mobil Corp made a record
first-quarter profit by pumping more oil and gas.
(Reporting by Scott DiSavino
Editing by Marguerita Choy)
Messaging: scott.disavino.thomsonreuters.com@reuters.net))
For U.S./Canada natural gas rig count vs Henry Hub futures price, see: U.S. natural gas inventories: For a list of all Baker Hughes rig counts around the world, see: For U.S. oil rigs, see: For U.S. gas rigs, see: ))
