US oil and gas rig count climbed to 549 rigs for the week ending September 26, an increase of seven rigs vs. a week ago and the largest gain since July according to Baker Hughes data. Rigs were added in the Eagle Ford (+4), Appalachia (+1) and All Other (+5), while the Permian (-1), Haynesville (-1) and Gulf of Mexico (-1) all declined vs. a week ago. Within the All Other group, notable moves were the Texas Gulf Coast (+2), State Offshore (+2) and Granite Wash (+1). Total US rig count is up two in the last 90 days, but down 38 from this week a year ago. Oil-directed rigs climed to 424 (+6) on the week, with gas-directed rigs falling to 117 (-1) and miscellaneous rigs up to 8 (+2).
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- Analyst Insight
US Oil and Gas Rig Count Grows For First Time Since April
US oil and gas rig count increased this week for the first time since April, climbing to 544 for the week ending July 18, a gain of seven vs. last week according to Baker Hughes data. The gain was primarily due to growth in the All Other category (+7), with the Haynesville (+3) also adding rigs, while the Eagle Ford (-2) and Permian (-1) both lost rigs. The most notable contribution in the All Other category came from the San Juan basin in Northwest New Mexico which gained four rigs vs. last week. The San Juan is primarily a gas play, producing just under 2 Bcf/d of gross gas. Total US rig count is down 41 in the last 90 days, and down 42 vs. this week a year ago. Oil-directed rigs fell to 422 (-2) on the week, while gas-directed rigs climbed to 117 (+9) and miscellaneous rigs were flat at five.
- Analyst Insight
US Rig Count Up Seven On Gains In Multiple Basins After Weeks of Stagnation
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.
- 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.
