The U.S. oil and gas rig count held steady at 588 for the week ending Aug. 28, according to data released Friday by Baker Hughes, marking a 9.7% increase from the same period last year.
Oil rigs declined by five to 447, while gas rigs rose by five to 132. Miscellaneous rigs remained unchanged at nine. The Permian Basin, the largest U.S. shale formation spanning West Texas and eastern New Mexico, maintained its rig count at 267.
Texas added one rig, reaching 282, the highest level since February 2025. The state’s count has been gradually recovering following declines in prior years. The broader U.S. rig count had previously fallen 7% in 2025, 5% in 2024, and 20% in 2023, as energy firms shifted capital toward shareholder returns and debt reduction amid lower oil prices.
