Recent industry data and management commentary from energy companies during conference call season indicates that the recovery in the oil services and drilling cycle is gaining traction as the economy improves.

The number of rigs actively exploring for oil and natural gas in the U.S. rose by 18 this week to 1,335. Baker Hughes Inc., based in Houston, said Friday that 878 rigs were exploring for natural gas and 445 for oil.

The international offshore rig count for January 2010 was 288, up 7 from the 281 counted in December 2009 and up 9 from the 279 counted in January 2009.

The date for the 787 Dreamlinera TMs first flight has inched closer, and Boeing hopes to fly not one but two 787s by year-end. According to a person close to the jet program, The Boeing Co.

As oil prices surged last year, Occidental Petroleum Corp. cranked up crude production and doubled its fourth-quarter earnings, the company said Thursday.

The sign above a gas pump is shown at the Marathon gas station in Indianapolis, Monday, Feb.

In this Jan. 30, 2009 file photo, an Exxon tanker truck operated by Corey Moorer, right, of Clinton, Md., makes a refueling stop at an Exxon station in Arlington, Va.

Energy stocks fell with the broad market on Monday, as crude futures dropped below $75 a barrel on jitters tied to China and Japan.

Stocks expected to move significantly in trading on Tuesday include Apple, Amgen, Baker Hughes, Corning, Delta Air, EMC, J&J, Novartis, TI, Tellabs and Travelers.

Crude oil rigs operating in the U.S. increased this week to the highest level in 16 years as drilling rose in Texas and the Dakotas, according to data published by Baker Hughes Inc.

Services companies may be able to benefit sooner than they thought from lucrative projects to develop and revive Iraq's idling oil fields.

Schlumberger Ltd. said Friday oil drilling has started to recover after a plunge in crude prices last year helped cut the company's fourth-quarter profit by 31 percent.

Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.

The world's second-largest oilfield services company, Halliburton has reported results for the fourth quarter of 2009 that, while materially down year over year, indicated the same sort of optimism for 2010 that has thus far been signaled by the likes of Baker Hughes and Schlumberger .

Baker Hughes Inc. said Tuesday that its fourth-quarter profit plunged 81 percent as last year's tumble in energy prices discouraged companies from drilling for more oil.

"Exxona TMs big acquisitions often serve as a blueprint for the rest of the industry," says energy sector advisor Elliott Gue , referring to its recent $41 billion acquisition of natural gas producer XTO Energy.

Energy's earnings season has swung into full gear, and Schlumberger , the biggest of the oilfield services companies, has checked in with a quarter that, all things considered, was at least respectable on a sequential basis.

Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11 a.m. in New York.

Baker Hughes Incorporated today announced that net income for the fourth quarter 2009 was $84 million or $0.27 per diluted share compared to $432 million or $1.41 per diluted share for the fourth quarter 2008 and $55 million or $0.18 per diluted share for the third quarter 2009.

Halliburton said Monday it's still recovering from a plunge in U.S. energy consumption last year that forced oil drillers to pull hundreds of rigs offline, slashing the company's fourth-quarter income by 48 percent.