The July 2, 2026, Baker Hughes’s weekly Rig Count Report shows that U.S. drilling activity continued to strengthen, with the total number of active rigs increasing by seven to 580, marking the second consecutive week of solid gains. The increase was driven primarily by oil drilling, as oil-directed rigs rose by five to 445, while natural gas rigs increased by one to 126, and miscellaneous rigs also rose by one to nine. Compared with the same week in 2025, the U.S. rig count was 41 rigs higher, indicating stronger exploration and production activity than a year ago.
Oil drilling continues to dominate U.S. exploration activity, accounting for approximately 77% of all active rigs, while natural gas rigs represent about 22% of the total. The figures suggest producers remain focused on crude oil development, although the modest increase in gas rigs points to steady investment in natural gas production as well.
The Baker Hughes rig count is one of the energy industry’s most closely watched indicators because it provides an early signal of future oil and natural gas production. Rising rig counts generally reflect growing confidence among producers and can foreshadow increased energy output in the months ahead, although companies continue to balance drilling activity with commodity prices, production costs, and shareholder returns.
