The total number of active drilling rigs for oil and gas in the United States rose by 5 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551 this week, down 35 from this same time last year.
The number of active oil rigs rose by 1 to 412 during the latest reporting period, according to the data. This is 68 below this same time last year. The number of gas rigs rose by 5, reaching 130, which is 30 more than this time last year. The miscellaneous rig count slipped by 1 and now is at 9.
The latest EIA data showed that weekly U.S. crude oil production fell again this week, by 481,000 bpd in the week ending January 30, to 13.215 million bpd on average, 647,000 bpd under the all-time high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell sharply during the week ending January 30, losing 15 crews and sinking to 148—the lowest point in five years.
The number of active drilling rigs in the Permian Basin slipped by 1 to 241, which is 62 rigs under year-ago levels. The count in the Eagle Ford held steady at 40, which is 8 fewer than this same time last year.
Oil prices were trading higher on the day prior to the data release. Brent futures are trading at $68.72 per barrel (+1.73%). WTI was trading up $1.05 per barrel on the day at $64.34, down week over week.
By Julianne Geiger for Oilprice.com
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