The total count of active drilling rigs for oil and gas operations across the United States stood at 601 this week, representing an increase of 52 rigs compared to the same period a year ago, according to data released by Baker Hughes on Friday.
Oil rigs specifically maintained their level at 463 during the latest reporting cycle, which reflects a gain of 46 rigs year-over-year. Natural gas rigs declined by 4 units to reach a total that remains 2 rigs above prior-year levels. Miscellaneous rig categories increased by 1 to total 11 units. Additionally, Primary Vision’s Frac Spread Count, which tracks the number of crews actively engaged in well completion operations, rose by 4 crews to reach 195, up 22 crews from a year ago.
Meanwhile, crude oil production continued its upward momentum. Data from the Energy Information Administration indicated that weekly U.S. crude production reached 14.013 million barrels per day for the week ending November 6, representing the third consecutive week of record output levels. This figure increased from 14.003 million bpd the previous week and surpassed production from a year ago by 151,000 bpd.
Regional activity showed increases in key producing areas. The Permian Basin saw its rig count rise by 2 units to 275, placing it 22 rigs above year-ago levels. The Eagle Ford count remained unchanged at 50, though this represents 9 more rigs than the corresponding period last year.
Commodity markets reflected gains during the session, with Brent crude trading at $96.09 per barrel, up 3.59%, and West Texas Intermediate trading at $89.00 per barrel, up 2.85%.
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