U.S. drilling activity increased for the third consecutive week, with Texas adding the most rigs, according to Baker Hughes.

HOUSTON (AP) — HOUSTON (AP) — Baker Hughes Co. (BKR) on Thursday reported fourth-quarter earnings of $1.18 billion. The Houston-based company said it had net income of $1.18 per share.

Baker Hughes reports a rise in US drilling activity, with the rig count increasing by four to 586, marking a second consecutive weekly gain.