U.S. oil and gas rig count gained seven rigs to 588 for the week ending July 17 according to Baker Hughes data, as Permian (+3), Anadarko (+2) and All Other (+2) all posted gains while all other basins held steady.
As discussed in this week's Crude Voyager, despite U.S.
The U.S. energy industry is continuously evolving. Unlike the previous era of unconventional supply growth, demand is increasingly determining where capital will be deployed, reshaping investment priorities. That’s today’s subject and the focus of our upcoming School of Energy: Foundations.
U.S. oil and gas rig count edged up one rig to 581 for the week ending July 10 according to Baker Hughes data, as gains in the Eagle Ford (+3) and Gulf of Mexico (+3) eclipsed a five-rig decline in Permian, with all other basins unchanged. Oil-directed rigs were unchanged at 445 and gas-directed rigs were unchanged at 126, while miscellaneous rigs climbed to 10 (+1). Total U.S. rig count is up 36 over the last 90 days and now stands 44 rigs above this week in 2025.
On July 6 the Premiers of Alberta and Ontario’s provincial governments unveiled a potential route for a new 3,300 km (2,050-mile) crude oil pipeline from Hardisty, AB to Sarnia, ON that would pass through Northern Ontario.
The EIA's Weekly Petroleum Status Report (WPSR) for the week ended July 3 pointed to a notable softening in U.S. crude market fundamentals, marking a shift away from the supply-driven tightness that has characterized recent weeks amid the Iran conflict.
The WTI crude-to-gas ratio has declined for three straight months, falling to 21.40 in July to date and moving to within 5% of year-ago levels.
On Thursday July 2 the Government of Canada, along Alberta’s provincial government, announced a proposal for a heavy crude oil pipeline capable of transporting more than 1 MMb/d from Bruderheim, AB (near Edmonton) to a deepwater port at Roberts Bank just south of Vancouver, BC (see map below).
It’s been quite a year already, with energy markets roiled by the Iran war. To survive such swings, you need a deep understanding of market fundamentals so that you can anticipate their effects. That’s today’s subject and the focus of our upcoming School of Energy: Foundations.
U.S. oil and gas rig count gained six rigs to 580 for the week ending July 2 according to Baker Hughes data, published Thursday ahead of the Independence Day holiday.
