The total number of active drilling rigs for oil and gas in the United States slipped this week, according to new data that Baker Hughes published on Friday, following a 2 rig increase in each of the two weeks prior.
The total rig count in the US fell by 3 to 584 rigs, according to Baker Hughes, down 21 from this same time last year.
The number of oil rigs fell by 4 to 479—down by 20 compared to this time last year. The number of gas rigs rose by 2 this week, to 101 for a loss of 1 active gas rigs from this time last year. Miscellaneous rigs lost a rig and now stands at 4.
The latest EIA data showed that weekly U.S. crude oil production rose, from 13.460 million bpd to 13.465 million bpd. The figure is 166,000 bpd down from the all-time high reached during the week of December 6, 2024.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose during the week of April 25 to 205, compared to 200 in the week prior—and up 4 since the start of the year.
WTI is trading down on the day, still below what the Dallas Fed Survey says is the breakeven for Permian players, with drilling activity in the basin falling by 2 to 287—a figure that is 29 fewer than this same time last year. The count in the Eagle Ford slipped by 1, to 46. Rigs in the Eagle Ford are 6 below where they were this time last year.
At 12:53 p.m., ET, the WTI benchmark was trading down $0.93 per barrel (-1.57%) on the day at $58.31, down roughly $4.70 per barrel from last Friday’s price. The Brent benchmark was trading down $0.77 (-1.24%) on the day at $61.36— down more than $5 per barrel from last Friday.
By Julianne Geiger for Oilprice.com
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