Key Takeaways
- The total US oil and gas rig count rose by 5 to 593 for the week ending August 14, 2026, marking its highest level since March 2025.
- Natural gas rigs led the weekly increase, jumping by 4 units to reach 128, while oil-directed rigs edged up by 1 to a total of 455.
- Year-over-year activity remains robust, with the total count up by 54 rigs compared to the same period in 2025.
- Energy firms increased drilling activity for the second time in three weeks, signaling a potential shift toward higher future output.
The US energy sector saw a significant uptick in drilling activity this week as the total rig count reached a 17-month peak. According to the latest report from Baker Hughes (BKR), the total number of active rigs in the United States landed at 593 for the week of August 14, 2026. This represents a weekly gain of 5 rigs and the highest operational level since March 2025, providing an early indicator of future production growth.
The increase was primarily driven by natural gas exploration, with the gas rig count climbing by 4 units to 128. Oil rigs also saw a modest gain, increasing by 1 to 455. On an annual basis, the expansion is even more pronounced; the oil rig count is up by 43 units and the gas count is up by 6 units compared to August 2025, reflecting a broader recovery in drilling demand.
In North America, the trend was mirrored in Canada, where the total rig count rose by 3 to 219. Canadian oil rigs increased by 5 to 151, while gas rigs remained steady at 65. Market analysts view these weekly fluctuations as a critical barometer for the oilfield services industry, as active rigs directly translate to increased demand for specialized labor and equipment.
The rise in activity comes as the U.S. Energy Information Administration (EIA) projects record-breaking production levels for the year. Crude output is expected to average 13.8 million barrels per day in 2026, while natural gas production is forecasted to hit a record 111.3 billion cubic feet per day to meet rising demand from data centers and export facilities. This increased rig count suggests that energy companies are positioning themselves to meet these aggressive supply targets.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.