The number of U.S. oil and natural-gas drilling rigs in operation rose sequentially last month, Baker Hughes Inc. (BHI) reported Wednesday, though they remained well below last year's levels as low energy prices and abundant supplies continue to curb drilling demand.
The oil-field services provider said the U.S. rig count rose 3% to 1,009 in September, but remained off by 50% from 2,014 a year earlier.
Oil and gas producers have sharply reduced drilling activity over the past several months in response to lower prices. In recent months, however, some companies have been putting rigs back to work as prices show signs of recovery.
The worldwide rig count rose 4.7% to 2,203 in September from 2,105 in August and was 38% lower than prior-year levels, according to Baker Hughes.
-By Christine Buurma, Dow Jones Newswires; 212-416-2143; christine.buurma@dowjones.com