July 26 (Reuters) - U.S. energy firms this week added

oil and natural gas rigs for a second week in a row , boosting

the monthly count by the most since November 2022, energy

services firm Baker Hughes ( BKR ) said in its closely followed

report on Friday.

The oil and gas rig count, an early indicator of future

output, rose by three to 589 in the week to July 26.

Despite this week's rig increase, Baker Hughes ( BKR ) said the total

count was still down by 75, or 11% below this time last year.

Baker Hughes ( BKR ) said oil rigs rose five to 482 this week,

while gas rigs fell by two to 101.

In July, total oil and gas rigs rose by eight, their

first monthly increase since February, and the biggest monthly

increase since November 2022.

Oil rigs rose by three in July, putting the count up for

the first month since March, while gas rigs climbed by four in

their biggest monthly increase since July 2023.

The oil and gas rig count fell nearly 7% in the first

half of the year, extending a slump of

about 20% in 2023

due to weak energy prices, high labor and equipment costs

and as drillers paid down debt and boosted shareholder returns

instead of raising output.

U.S. oil futures were up about 8% so far in 2024

after dropping by 11% in 2023, while U.S. gas futures

were down about 20% so far in 2024 after plunging by 44% in

2023.

Baker Hughes ( BKR ) beat analysts' estimates for

second-quarter profit

on Thursday, powered by higher demand in international

markets, echoing results from rivals SLB and Halliburton ( HAL )

.

Revenue from its North America segment, however, fell

1.8% as a slump in gas prices due to high inventories prompted

operators in the U.S. to rein in activity.