US oil and gas rig count continued its multi-month slide, with total rig count falling by seven rigs to 547 for the week ending June 27 according to Baker Hughes data. Rigs declined in the Niobrara (-3), Permian (-1), Anadarko (-1) and All Other (-2), while no basins reported gains. Total US rig count is down 45 in the last 90 days, and down 34 vs. this week a year ago. Oil-directed rigs fell to 432 (-6) on the week, with gas-directed rigs falling to 109 (-2) and miscellaneous rigs increasing to six (+1).
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- Analyst Insight
US Rig Count Declines To 578 Led By Losses In Permian, Gulf of Mexico
US oil and gas rig count declined to 578 for the week ending May 9, a decline of six vs a week ago according to Baker Hughes. The Gulf of Mexico (-2), Permian (-2), Niobrara (-1) and All Other (-1) all posted declines, while no basins reported gains. Total US rig count is down nine in the last 90 days, and down 26 from this week a year ago. Oil-directed rigs stand at 474 and declined by five this week, while gas-directed rigs were unchanged at 101 and miscellaneous rigs declined by one to three rigs.
- Analyst Insight
Rig Count Gains In Niobrara Aren't Enough To Offset Losses In Permian, Anadarko
US oil and gas rig count declined for the eighth consecutive week, falling to 554 for the week ending June 20 - a decline of one vs. a week ago according to Baker Hughes data. Rigs were added in the Niobrara (+3), Haynesville (+1) and Gulf of Mexico (+1), while the Permian (-2), Anadarko (-2) and All Other (-2) all posted week-on-week declines. Total US rig count is down 39 in the last 90 days, and down 34 from this week a year ago. Oil-directed rigs declined to 438 (-1) on the week, while gas-directed rigs fell to 111 (-2) and miscellaneous rigs grew to 5 (+2).
- Analyst Insight
Another Rough Week For US Rig Count As US Total Declines to 539
US oil and gas rig count opened the month of July with another week-on-week decline, falling to 539 for the week ending July 3, a decline of eight vs. a week ago according to Baker Hughes. The Haynesville (+1) was the only basin to post an increase, while the Permian (-5), Anadarko (-2), Appalachia (-1) and Niobrara (-1) all posted declines. Total US rig count is down 51 in the last 90 days and down 46 vs. this week a year ago. The Haynesville is the only basin where rig count increased in the last 90 days, increasing from 32 rigs in April to 40 this week. Oil-directed US rig count stands at 425 (-7), while gas-directed rig count is also down week-on-week at 108 (-1) and miscellaneous rigs were flat at six.
