The total number of active drilling rigs for oil and gas in the United States fell by 6 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 542 this week, down 47 from this same time last year.
The number of active oil rigs fell by 8 in the reporting period, according to the data, after US drillers added 1 rig in the week prior. Oil rigs are now at 406, which is 77 below this same time last year. The number of gas rigs stayed the same at 127, which is 25 more than this time last year. The miscellaneous rig count rose by 2 to reach 9.
The latest EIA data showed that weekly U.S. crude oil production fell by 10,000 bpd in the week ending December 12 to 13.843 million bpd on average, just 9 million bpd under the all-time high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell during the week ending December 12, sinking to 168. There are now 33 fewer active completion crews than there were at the beginning of this year.
The number of active drilling rigs in the Permian Basin fell by 3 last week, to 246, which is 58 rigs under year-ago levels. The count in the Eagle Ford stayed the same at 39, which is 7 fewer than this same time last year.
By 12:47 p.m. ET, the WTI benchmark was trading up on the day, gaining $0.44 per barrel and reaching $56.44. The current price is still $1 per barrel less than this time last week. The Brent benchmark was trading up $0.48 per barrel, at $60.30, a $0.70 per barrel loss week over week.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com
Back to homepage
