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US total rig count resumes incline, adds 3 in week ended Feb. 23

After holding steady in the previous week, the combined oil and natural gas rig count in the United States continued to rise during the week ended Feb. 23, reaching 978, according to Baker Hughes Inc.'s latest North America Rotary Rig Count.

The total count sits 224 rigs above the corresponding week in 2017.

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Oil-directed rigs were up one on the week to 799, which was up 197 from the same week in 2017. Natural gas-directed rigs were up two on the week to 179 and were up 28 rigs on the year.

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The North American rig count was down nine on the week but up 189 on the year to 1,284, as Canadian rigs tumbled 12 on the week and were down 35 on the year to 306.

During the week ended Feb. 23, U.S. land rigs were up three at 959, which was up 226 from the corresponding year-ago period. Inland water rigs were up one on the week and down two on the year at two. Offshore rigs were down one on the week and steady on the year at 17.

By trajectory, vertical rigs were up two on the week and were up six on the year to 67. Directional rigs were down two on the week at 69, which is unchanged on the year. Horizontal rigs added three on the week at 842, which is 218 rigs better than the same week in 2017.

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