After five consecutive weeks of gains, US oil and gas rig count began the month of March with a small decline, falling by one rig to 592 for the week ending March 7 according to Baker Hughes. Rigs were added in the Eagle Ford (+1) and Gulf of Mexico (+1), while the Haynesville (-2) and Permian (-1) both lost rigs. Total US rig count is up three in the last 90 days, and down 30 vs. this week a year ago. Gas-directed rigs fell to 101 (-1) this week, while oil-directed rigs were flat at 486 and miscellaneous rigs held at five.
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- Analyst Insight
Rigs Begin August With Small Weekly Dip, Falling To 586
US oil and gas rig count began the month of August posting a modest weekly decline, dropping three rigs from a week ago and falling to 586 for the week ending August 2 according to Baker Hughes. Rigs were added in the All Other group (+1), while the Permian (-1), Eagle Ford (-1), Appalachia (-1) and Gulf of Mexico (-1) each posted a small decline. Total US rig count is down 19 in the last 90 days, and down 73 from this week a year ago. Oil-directed rigs (482) and miscellaneous rigs (6)were flat week on week, while gas-directed rigs fell to 98, a decline of three vs. a week ago.
- Analyst Insight
Rigs Dip For Second Consecutive Week In June
US oil and gas rig count declined for the second consecutive week, falling to 590 for the week ending June 14, a decline of 4 vs. a week ago according to Baker Hughes. Rigs were added in the Eagle Ford (+1), while the Permian (-1), Haynesville (-1), Anadarko (-1), Gulf of Mexico (-1) and All Other (-1) all lost rigs. Total US rig count is down 39 in the last 90 days, and down 97 from this week a year ago. Oil-directed rigs fell to 488 (-4), while gas-directed rigs were flat at 98.
- Analyst Insight
Rig Count Finished February With Four Consecutive Gains
The U.S. oil and gas rig count rose by one to 593 for the week ending February 28 according to Baker Hughes, closing the month with four consecutive weeks of increases and a total gain of 11 rigs for the month. Rig additions occurred in the Permian (+1), Eagle Ford (+1), and Haynesville (+1) basins, while declines were reported in the Gulf of Mexico (-1) and All Other (-1). Over the past 90 days, the total U.S. rig count has increased by 11, though it remains 36 rigs below the level from the same week a year ago. Oil-directed rigs dropped by two to 486, gas-directed rigs rose by three to 102, and miscellaneous rigs held steady at five.
