The total number of active drilling rigs for oil and gas in the United States rose by 1 this week, according to new data that Baker Hughes published earlier this week, bringing the total rig count in the US to 546 this week, down 43 from this same time last year.
The number of active oil rigs rose by 3 in the reporting period for the second week in a row, according to the data. Oil rigs are now at 412, which is 70 below this same time last year. The number of gas rigs fell by 2 to 125, which is 22 more than this time last year. The miscellaneous rig count stayed the same at 9.
The latest EIA data showed that weekly U.S. crude oil production rose slightly by 2,000 bpd in the week ending December 26 to 13.827 million bpd on average, just 26,000 bpd under the all-time high reached just three weeks ago.
U.S. crude production remains close to recent highs even with far fewer rigs operating than a year ago. Weekly output has been largely stable over the past month, despite only modest changes in drilling activity. The rig count, at least so far, has not been a reliable signal for near-term supply shifts.
The number of active drilling rigs in the Permian Basin stayed at 247, which is 57 rigs under year-ago levels. The count in the Eagle Ford slipped by 1, reaching 40, which is 5 fewer than this same time last year.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com
Back to homepage
