US oil and gas rig count declined for the third consecutive week, falling to 575 rigs for the week ending May 16, a decline of two rigs vs. a week ago. Rigs were added in Appalachia (+1) and All Other (+1), while the Permian (-3) and Gulf of Mexico (-1) both lost rigs. Total US rig count is down 13 in the last 90 days, and down 29 since this week a year ago. Oil-directed rigs declined to 473 (-1) this week, with gas-directed rigs also declining to 100 (-1) and miscellaneous rigs unchanged at three.
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- Analyst Insight
US Rig Count Down Slightly Led By Anadarko, Permian, Eagle Ford Losses
US oil and gas rig count declined for the third consecutive week, falling to 588 for the week ending June 21 according to Baker Hughes, a decline of two vs. a week ago. Rigs were added in the Haynesville (+1) and Bakken (+1), while the Anadarko (-2), Permian (-1) and Eagle Ford (-1) all lost rigs. Total rig count is down 36 in the last 90 days, and down 94 vs. this week a year ago. Oil-directed rigs stand at 485 (-3), gas-directed rigs at 98, and miscellaneous rigs at 5 (+1).
- Analyst Insight
US Oil & Gas Rig Count Down
US oil and gas rig count posted its largest week-on-week decline of the year, declining by seven rigs vs. a week ago to 583 for the week ending April 11 according to Baker Hughes. Basins reporting declines this week include the Permian (-4), All Other (-2), Eagle Ford (-1), Appalachia (-1) and the Gulf of Mexico (-1), while the Haynesville (+2) was the only basin to report an increase. Total US rig count is down one in the last 90 days, and down 34 from this week a year ago. Oil-directed rigs declined by nine on the week to 480, while gas-directed rigs (97) and miscellaneous (6) both increased by one for the week.
- Analyst Insight
US Rig Count Declines To 578 Led By Losses In Permian, Gulf of Mexico
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.
