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.
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- Analyst Insight
US Rig Count Posts Small Weekly Gain, Climbs to 586
US oil and gas rig count posted a very modest gain for the week ending October 11, adding one rig vs. a week ago and climbing to to 586 according to Baker Hughes. Rigs were added in the Eagle Ford (+1), Anadarko (+1) and All Other (+1), while Appalachia (-2) lost rigs. Total US rig count is up two in the last 90 days, and down 36 from this week a year ago. Oil-directed rigs (+2) climed to 481, while gas-directed rigs (-1) fell to 101 and miscelaneous rigs were flat at four.
- 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
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.
