The total number of active oil and gas drilling rigs in the United States held steady at 588 during the latest reporting week, according to data released by Baker Hughes on Friday. This represents a significant increase compared to the same period last year, when the total stood at 537 rigs.
Within the overall figures, oil rig activity showed gains with the count rising by 2 to reach 449 active rigs. Year-over-year, this reflects a 35-rig increase from the prior year level. Natural gas drilling activity moved in the opposite direction, declining by 2 rigs to total 130. Despite the weekly decrease, gas rig counts remained 12 units higher than the comparable period last year. Miscellaneous rigs, which make up a small portion of the total, remained unchanged at 9.
U.S. crude oil production metrics showed continued growth during the week ending August 28. Production averaged 13.862 million barrels per day, up slightly from 13.843 million bpd in the previous week and marking a year-over-year increase of 423,000 bpd. In contrast, completion activity declined as Primary Vision’s Frac Spread Count fell by 4 crews to 180, continuing a downward trend that included a 9-crew loss in the preceding week.
Regional drilling developments were mixed, with the Permian Basin showing strength as rig counts increased by 1 to 264, representing a 14-rig gain from a year prior. The Eagle Ford shale region maintained its position with 50 active rigs, which nonetheless represents an 11-rig increase compared to last year. Crude oil prices declined on the day of the data release, with Brent crude falling 0.26 percent to $95.27 per barrel and West Texas Intermediate dropping 0.77 percent to $90.60 per barrel.
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