US oil and gas rig count posted another small increase this week, marking its third consecutive week of gains. Rig count for the week ending September 19 climbed by three rigs vs a week ago to reach 542 according to Baker Hughes data. Two rigs each were added in the Niobrara and All Other, while the Permian lost one rig. Total US rig count is down 12 in the last 90 days, and down 46 vs. this week a year ago. Oil-directed rig count rose to 418 (+2) this week, with gas-directed rig count flat at 118 and miscellaneous rigs up to 6 (+1).
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- Analyst Insight
US Rig Count Begins August With Small Decline, Gas Rig Gains Continue
US oil and gas rig count declined by two for the first week of the new month, dropping to 540 rigs for the week ending August 1 according to Baker Hughes. One rig was added in the All Other group, while the Permian, Anadarko and Gulf of Mexico each lost one rig. Total US rig count is down 44 in the last 90 days, and down 46 vs. this week a year ago. Gas-directed rigs continue to make gains at the expense of oil-directed rigs, increasing for the fourth consecutive week and climbing to 124 (+2), a gain of 16 since the first week of July. Oil-directed rigs stand at 410 (-5), with miscellaneous rigs up slightly to 6 (+1).
- Analyst Insight
Rig Count Gains In Niobrara Aren't Enough To Offset Losses In Permian, Anadarko
US oil and gas rig count declined for the eighth consecutive week, falling to 554 for the week ending June 20 - a decline of one vs. a week ago according to Baker Hughes data. Rigs were added in the Niobrara (+3), Haynesville (+1) and Gulf of Mexico (+1), while the Permian (-2), Anadarko (-2) and All Other (-2) all posted week-on-week declines. Total US rig count is down 39 in the last 90 days, and down 34 from this week a year ago. Oil-directed rigs declined to 438 (-1) on the week, while gas-directed rigs fell to 111 (-2) and miscellaneous rigs grew to 5 (+2).
- Analyst Insight
Another Rough Week For US Rig Count As US Total Declines to 539
US oil and gas rig count opened the month of July with another week-on-week decline, falling to 539 for the week ending July 3, a decline of eight vs. a week ago according to Baker Hughes. The Haynesville (+1) was the only basin to post an increase, while the Permian (-5), Anadarko (-2), Appalachia (-1) and Niobrara (-1) all posted declines. Total US rig count is down 51 in the last 90 days and down 46 vs. this week a year ago. The Haynesville is the only basin where rig count increased in the last 90 days, increasing from 32 rigs in April to 40 this week. Oil-directed US rig count stands at 425 (-7), while gas-directed rig count is also down week-on-week at 108 (-1) and miscellaneous rigs were flat at six.
