The total number of active drilling rigs across oil and gas operations in the United States increased during the latest reporting period, reaching 588 units according to data released by Baker Hughes. This represented a gain of 48 rigs compared to the equivalent period last year, indicating a modest expansion in drilling activity.
Within this broader increase, oil-specific rig counts rose by one unit to reach 451, positioning them 41 above year-ago levels. Gas rig counts remained unchanged at 127, though this still reflected a three-unit increase from twelve months earlier. Miscellaneous rig classifications held steady at 10 units.
US crude oil production data from the Energy Information Administration showed a slight weekly decline in output. Production averaged 13.796 million barrels per day during the week ending July 24, down marginally from 13.798 million bpd in the previous week, though it remained 482,000 bpd higher on an annual basis. Meanwhile, the Primary Vision Frac Spread Count, which tracks well completion crews, increased by two to reach 198 crews after declining by four in the preceding week.
Regional activity continued shifting, with the Permian Basin adding two rigs to reach a total of 260, representing a slight gain above year-ago figures. The Eagle Ford formation similarly added two rigs, bringing its count to 49 and marking a ten-rig increase from the same period last year.
Commodity markets reflected mixed signals, with Brent crude trading at $89.95 per barrel, up 1.03 percent on the day but down $6 from the previous week. West Texas Intermediate crude climbed to $84.67 per barrel, gaining 1.29 percent during the trading session.
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