The total number of active drilling rigs for oil and gas in the United States held steady at 603 during the latest reporting period, according to data published by Baker Hughes on Friday. The count of active oil rigs decreased by three to 459, while gas rigs increased by one to 133, and miscellaneous rigs rose by two to 11. Compared to the same period last year, the overall rig count stood 55 higher, with oil rigs up 41 and gas rigs up 12.
U.S. crude oil production showed weakness during the most recent week, averaging 13.679 million barrels per day, down from 13.979 million bpd in the prior week, according to data from the Energy Information Administration. The production level represented a modest gain of 43,000 bpd compared to one year earlier. Meanwhile, activity in well completion operations continued expanding, with Primary Vision’s Frac Spread Count rising for the fifth consecutive week to 203 crews, up 7 from the prior week.
Regional rig activity showed mixed results, with the Permian Basin experiencing a decline of two rigs to 272, though this remained 21 above year-ago levels. The Eagle Ford region maintained its rig count at 49, which represented a gain of 5 compared to the same period last year. Oil prices were volatile on the day, with Brent crude trading down 0.30% to $105.60 per barrel but up $2 from the previous week, while West Texas Intermediate declined 0.42% to $97.56 per barrel despite a gain of nearly $6 from the week prior.
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