Another week of gains in oil-directed drilling lifted the overall U.S. rig count four units to an even 300 as of the week ending Friday (Nov. 6), according to the latest data published by Baker Hughes Co. (BKR).

shale rig count Nov. 6

The BKR numbers, which are based on data provided in part by Enverus Drillinginfo, show a five-rig increase in oil-directed drilling in the United States, offsetting a decline of one natural gas-directed rig. The overall U.S. count now sits 517 units behind the 817 rigs running at this time last year.

Still, after plummeting in the economic aftermath of efforts to contain the Covid-19 pandemic, total U.S. rigs have now increased for eight straight weeks.

Land drilling increased by four domestically, while one rig was deployed to inland waters. Gulf of Mexico rigs fell...