The number of operational oil and gas drilling rigs in the United States decreased during the latest reporting period, according to data released by Baker Hughes on Friday. The total rig count reached 587 units, representing a year-over-year increase of 45 rigs compared to the same period last year. However, the specific breakdown revealed mixed activity levels across different drilling categories.
Active oil rigs fell by 2 during the reporting period, bringing the total to 450 units. This figure remains 35 rigs above levels recorded a year prior. Gas rigs increased by 1 to reach 127 units, up 5 from the comparable period in the previous year. Miscellaneous rigs remained unchanged at 10 units. Additionally, Primary Vision’s Frac Spread Count, which tracks the number of crews actively completing wells, declined by 4 in the week ending July 17, dropping to 196 crews after losing 5 crews in the preceding week.
Regional drilling activity showed varied trends. The Permian Basin, a major oil-producing region, experienced a reduction of 1 rig to reach 258 active units, placing it 2 rigs below year-ago levels. The Eagle Ford shale play maintained its rig count at 47 units, which represents an 8-rig increase compared to the same period last year.
Production data from the Energy Information Administration indicated that U.S. crude oil output declined slightly during the week ending July 17. Average production fell to 13.798 million barrels per day, down from 13.861 million barrels per day in the previous week, though it remained 525,000 barrels per day higher than the prior year’s level.
Commodity markets reflected downward pressure on crude prices during the trading session. Brent crude declined 4.70 percent to $95.96 per barrel, while West Texas Intermediate fell 4.22 percent to $88.30 per barrel. Despite the daily losses, both benchmarks remained elevated compared to levels recorded earlier in the week, with Brent up more than $8 per barrel from seven days prior.
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