US oil and gas rig count showed little movement for the week ending October 18, declining by one vs. a week ago and falling to 585 according to Baker Hughes. Rigs were added in the Anadarko (+1), while the Haynesville (-1) and All Other (-1) both lost rigs. Total US rig count is down one in the last 90 days, and down 39 vs. this week a year ago. Oil-directed rigs climbed to 482 (+1) this week, while gas-directed rigs fell to 99 (-2) and miscellaneous rigs were flat at four.
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- Analyst Insight
US Rig Count Continues Downward Trend To Begin October, Even As Gas Rigs Climb Back Past 100
US oil and gas rig count continued last weeks downward trend falling to 585 for the week ending October 4, a decline of two. vs. a week ago according to Baker Hughes. Rigs were added in the Haynesville (+1), Appalachia (+1) and Niobrara (+1), while the Permian (-2), Anadarko (-2) and Gulf of Mexico (-1) all lost rigs. Total US rig count is flat vs. 90 days ago, and down 34 vs. this week a year ago. Gas-directed rigs climbed by three this week to 102 on rising prices and the beginning of higher winter demand, the first time they have exceeded 100 since late July. Oil-directed rigs (479) declined by five for the week and miscellaneous rigs (4) were flat.
- Analyst Insight
Rig Count Posts Small Weekly Decline, Falls To 583
US oil and gas rig count posted a modest decline for the week ending November 22, declining by one rig vs. a week ago to 583 according to Baker Hughes. Rigs were added in the Eagle Ford (+2) and Anadarko (+1), while the Haynesville (-2) and All Other (-2) both posted declines. Total US rig count is down two in the last 90 days, and down 39 from this week a year ago. Oil-directed rigs climbed to 479 (+1), while gas-directed rigs fell to 99 (-2) and miscellaneous rigs stand at 5 (+0).
- Analyst Insight
US Rig Count Stands At 589, Unchanged vs. Last Week
US oil and gas rig count was unchanged at 589 for the week ending December 13 according to Baker Hughes data.
