The number of active oil drilling rigs in the United States fell by 3 during the latest reporting period, bringing the total to 452 units, according to data released by Baker Hughes. Gas rigs declined by 1 to 127, while miscellaneous rigs also dropped by 1 to 9. Overall, the combined rig count across all categories reached 588, representing a year-over-year increase of 50 rigs compared to the same period last year.
Despite the pullback in active drilling equipment, U.S. crude oil production continued to advance. Energy Information Administration data indicated that weekly production averaged 13.830 million barrels per day during the week ending August 14, up from 13.805 million bpd the prior week and 503,000 bpd higher than the comparable period from the previous year.
Regional drilling activity showed mixed results, with the Permian Basin gaining 2 rigs to reach 267 active units, positioning it 12 rigs above year-ago levels. The Eagle Ford formation also saw growth, adding 1 rig to total 50, which represents 11 additional rigs compared to the same time last year. Meanwhile, the number of frac spreads—crews actively completing wells—fell by 3 to 193 crews during the week ending August 14.
Commodity markets reflected strength on Friday, with Brent crude trading at $94.23 per barrel, up 0.48 percent on the day and nearly $7 per barrel higher than the previous week. West Texas Intermediate crude also posted gains, trading at $86.92 per barrel with a marginal 0.10 percent increase.
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