Rig Count Gains In Niobrara Aren't Enough To Offset Losses In Permian, Anadarko

US oil and gas rig count fell for the sixth consecutive week, falling to 559 for the week ending June 6 according to Baker Hughes data, a decline of four vs. a week ago. Rigs were added in the Haynesville (+2), while the Permian (-3), Anadarko (-2) and Eagle Ford (-1) all posted declines. Total US rig count is down 33 in the last 90 days, and down 35 vs. this week a year ago. Oil-directed rigs fell to 442 (-9) this week, while gas-directed rigs increased to 114 (+5) and miscellaneous rigs were flat at three.

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.

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).