Rig Count Holds Steady For Second Consecutive Week, Up 1 to 632

The Permian Basin led this week's decline in oil and gas rig count with total US rigs falling to 632, a decline of 10 vs. a week ago according to Baker Hughes.

US oil and gas rig count grew by seven for the week ending December 6, the largest weekly gain since September, climbing to 589 according to Baker Hughes. The Permian (+1), Bakken (+1), Gulf of Mexico (+1) and All Other (+5) basins all posted gains, while the Anadarko (-1) was the only basin to post a decline. Within the All Other group, rigs were added in Granite Wash (+2) in the Texas panhandle, Monterey Shale (+1) in California, Uinta (+1) in Utah, and East Texas Other (+1). Total US rig count is up seven in the last 90 days, and down 37 vs. this week a year ago. Oil-directed rigs climbed to 482 (+5) while gas-directed rigs grew to 102 (+2) and miscellaneous rigs were unchanged and stand at five.

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.