The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 4-rig decrease last week, and a 3-rig decrease the week before that.
The total rig count in the US fell by 4 to 555 rigs, according to Baker Hughes, down 35 from this same time last year.
The number of oil rigs fell by 3 to 439 after falling by 9 during the previous week—and down by 49 compared to this time last year. The number of gas rigs fell by 1 this week, to 113 for a gain of 15 active gas rigs from this time last year. The miscellaneous rig count stayed the same at 3.
The latest EIA data showed that weekly U.S. crude oil production rose again this week, from 13.408 million bpd to 13.428 million bpd. The figure is 203,000 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, slumped again during the week of June 6, to 186, compared to 190 in the week prior. The count is now 29 below where it was on March 21.
WTI is trading up on the day on fresh tensions in the Middle East following Israel’s strike on Iran—a welcome price development for US shale. Drilling activity in the basin fell by 2, to 273—a figure that is 36 fewer than this same time last year. The count in the Eagle Ford was unchanged at 40 active rigs. Rigs in the Eagle Ford are 11 below where they were this time last year.
At 11:24 a.m., ET, the WTI benchmark was trading up $4.08 per barrel (+6%) on the day at $72, up almost $8 per barrel from last Friday’s price. The Brent benchmark was trading up $4.07 (+5.87%) on the day at $73.43— up roughly $7 per barrel from last Friday.
By Julianne Geiger for Oilprice.com
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