The U.S. oil and gas rig count jumped 10 during the week ended May 12, totaling 555, according to rig data provider Enverus. Furthermore, upstream operators ended the first quarter on an optimistic note with higher oil prices and an improved outlook for the remainder of 2021.
The Permian Basin and Eagle Ford ended the week with the biggest gains, up five rigs apiece.
Overall, oil rigs rose 12 to 429 and gas rigs dropped 2 to 126.
Learn more: S&P Global Platts > US oil, gas rigs jump 10 to 555 on week, as optimistic Q1 season wraps
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