US oil and gas rig count ended the month of July with its third consecutive decline, dropping by five to 664 rigs for the week ending July 28 according to Baker Hughes. Rigs were added in the Permian (+1) and Gulf of Mexico (+1), while the Eagle Ford (-3), Appalachia (-2), Anadarko (-1) and All Other (-1) all lost rigs. Total US rig count is down 91 in the past 90 days, and down 103 vs. this week a year ago.
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- Analyst Insight
US Rig Count Posts Third Consecutive Decline To Close Month of August
US oil and gas rig count posted it's third consecutive weekly decline, dropping two rigs vs. a week ago and falling to 583 for the week ending August 30 according to Baker Hughes. Rigs were added in the Anadarko (+2), Eagle Ford (+1) and Gulf of Mexico (+1), while Appalachia (-2), Permian (-1), Haynesville (-1), Niobrara (-1) and All Other (-1) all lost rigs. Total US rig count is down 17 in the last 90 days, and down 48 from this week a year ago. Oil-directed rigs (483) were flat this week, while gas-directed rigs declined by two to 95.
- Analyst Insight
US Rig Count Falls For Third Consecutive Week, Dropping To 603
US oil and gas rig count fell for the third consecutive week, dropping two rigs from a week ago and falling to 603 for the week ending May 10 according to Baker Hughes. Rigs were added in the Gulf of Mexico (+1) and All Other (+1), while the Permian (-2) and Anadarko (-2) both lost rigs. Total US rig count is down 20 in the last 90 days, and down 128 vs. this week a year ago. Oil-directed rigs declined to 496 (-3) this week, while gas-directed rigs were up slightly at 103 (+1).
- Analyst Insight
Rig Count Climbs To 586, Erasing Last Week's Losses
US oil and gas rig count climbed to 586 for the week ending July 19, a gain of two vs. a week ago according to Baker Hughes. Rigs were added in the Eagle Ford (+1), Appalachia (+1) and All Other (+4), while the Haynesville (-1), Anadarko (-1), Niobrara (-1) and Gulf of Mexico (-1) all lost rigs. Within the All Other group, the Green River, Monterey Shale, Sacramento Basin, and Unita basins each added one rig. Total US rig count is down 33 in the last 90 days, and down 83 vs. this week a year ago. Oil-directed rigs declined this week to 477 (-1), while gas-directed rigs grew to 103 (+3) and miscellaneous rigs were flat at 6.
