[Baker Hughes Says US Drillers Add Oil and Gas Rigs for First Time in Three Weeks] Energy services company Baker Hughes said Thursday that US energy companies added the number of oil and gas rigs this week for the first time in three weeks. As an early indicator of future production, the number of oil and gas rigs increased by five in the week ending April 2, reaching 548. Baker Hughes said that despite this week's increase, the total number of rigs is still 42 fewer than the same period last year, a decrease of 7.1%. Baker Hughes said that two oil rigs were added this week, reaching 411; and three gas rigs were added, reaching 130. Due to falling US oil prices, prompting energy companies to focus more on improving shareholder returns and paying off debt rather than increasing production, the number of oil and gas rigs is projected to decline by about 7% in 2025, 5% in 2024, and 20% in 2023.
