Oil’s Comeback: Signs Emerge That U.S. Producers Are Ready to Drill More
Written by Black Hot Fire Network on April 14, 2022
Text size
The most recent Baker Hughes rig count showed that 16 rigs were added in the lower 48 states, the second-largest addition in three years.
Robyn Beck/AFP via Getty Images
When it comes to drilling new wells, most U.S. companies have taken a vow of abstinence for the past two years. With oil prices holding above $100 a barrel, those vows get harder to keep.
Last week’s rig count showed a large jump in rigs in the U.S., and new data on permits in one key U.S. basin . . .