The total number of active drilling rigs in the United States increased by 7 to 544 rigs this week, according to Baker Hughes.
The rise was primarily driven by a gain of 9 gas rigs, reaching a total of 117, while oil rigs fell by 2 to 422.
US crude oil production dipped for the third consecutive week, and drilling activity in the Permian basin retreated with a loss of 2 rigs.
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, following a string of losses for US drillers.
The total rig count in the US rose by 7 to 544 rigs, according to Baker Hughes, down 42 from this same time last year.
The number of oil rigs fell by 2 to 422 after falling by 7 during the previous week—and down by 55 compared to this time last year. The number of gas rigs rose by 9 this week, at 117 for a gain of 14 active gas rigs from this time last year. The miscellaneous rig count stayed the same at 5.
The latest EIA data showed that weekly U.S. crude oil production dipped for the third week in a row in the week ending July 11, from 13.385 million bpd to 13.375 million bpd. The figure is 256,000 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 by 4 during the week of July 11, to 180—up from last week’s 176, which was the lowest level in over four years. The count is now 35 below where it was on March 21.
Drilling activity in the Permian basin retreated, losing 2 rigs. The Permian now has 263 rigs—a figure that is 42 fewer than this same time last year. The count in the Eagle Ford was unchanged again at 41 active rigs for the second week in a row. Rigs in the Eagle Ford are 8 below where they were this time last year.
At 12:34 p.m., ET, the WTI benchmark was trading down $0.12 per barrel (-0.18%) on the day at $67.42. The Brent benchmark was trading down $0.20 (-0.29%) on the day at $69.32.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com
Back to homepage
