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U.S. drilling activity held steady this week, but producers continued shifting rigs back toward oil as crude prices posted another strong weekly gain.
The U.S. rig count remained at 588 for the week ended September 4, according to the latest Baker Hughes North America Rig Count Report.
That leaves the U.S. with 51 more rigs operating than the 537 working during the comparable week last year, an increase of roughly 9.5%.
Beneath the unchanged headline number, however, drilling activity continued to shift.
Oil rigs increased by two to 449, while natural gas rigs declined by two to 130. Miscellaneous rigs were unchanged at nine.
Compared with a year ago, the U.S. now has 35 more oil rigs and 12 more natural gas rigs operating.
The increase in oil-directed drilling comes alongside a significant rally in crude prices.
WTI crude settled Friday at about US$90.76 per barrel, while Brent settled at US$95.29, with both benchmarks posting strong gains for the week as renewed U.S.-Iran tensions increased concerns over Middle East supply.
Natural gas, meanwhile, settled around US$2.98 per MMBtu.
Activity in the Permian Basin increased by one rig to 268, putting the country’s largest oil-producing basin 14 rigs above its level a year ago.
The Cana Woodford and DJ-Niobrara also each added one rig. The Haynesville, Marcellus and Granite Wash each lost one.
Texas added one rig to reach 283, a substantial 40 rigs above the 243 operating in the state a year ago. Colorado also added one, while Louisiana and Pennsylvania each lost one.
The latest numbers reinforce a trend that has become increasingly clear in 2026.
U.S. producers are running substantially more rigs than they were a year ago, but the expansion remains measured rather than aggressive.
With WTI around US$90 and the U.S. oil rig count up roughly 8% year over year, producers have a strong incentive to drill.
But after years of emphasizing capital discipline and improving drilling productivity, higher oil prices are not automatically translating into a rush to deploy rigs.
For now, the U.S. fleet remains steady at 588.
What is changing is where those rigs are going.
Source: Baker Hughes North America Rig Count Report, September 4, 2026.
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