U.S. land drillers turned in another week of gains thanks to continued expansion in the oil patch, according to the latest Baker Hughes Co. (BKR) tally, which showed the overall domestic rig count rising five units to 508 as of Friday (Aug. 27).

shale rig count Aug 27

Oil rigs added on land accounted for the entirety of the net change week/week in the United States. Domestic natural gas rigs held steady at 97, while Gulf of Mexico activity was unchanged at 14. The combined 508 U.S. rigs as of Friday compares with 254 rigs running at this time a year ago, according to the BKR numbers, which are based partly on data from Enverus.

The number of U.S. oil rigs has been on a steady uptrend coming off of last year’s Covid-induced lows. Just over 50 oil rigs have joined the patch domestically since June,...