The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday.
The total rig count in the US stayed the same at 549 according to Baker Hughes, down 36 from this same time last year.
The number of active oil rigs fell in the week, according to the data, to 422. Year over year, this represents a 57-rig decline. The number of gas rigs rose by 1 to 118 active rigs, which is 16 over this time last year. The miscellaneous rig count rose by 1 to 9.
The latest EIA data showed that weekly U.S. crude oil production rose in the week ending September 26, from 13.501 million bpd to 13.505 million bpd. Average weekly oil production in the United States is now 57,000 barrel per day under where it was at the beginning of the year.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells rose for week ending September 26 to 179—the fourth weekly rise. This is 17 crews above the four-year low.
The Permian Basin fell by 2 to 251 this week, which is 53 rigs under year-ago levels. The count in the Eagle Ford stayed the same at 45, which is just 3 less than this same time last year.
At 12:59 p.m. ET, the WTI benchmark was trading up $0.70 per barrel (+1.16%) on the day at $61.18, a figure that is $4.60 under the level from this time last week as the market waits for news of OPEC+’s production decision at their virtual meeting scheduled for this Sunday. The Brent benchmark was trading up $0.68 (+1.06%) on Friday at $64.79.
By Julianne Geiger for Oilprice.com
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