U.S. rig count climbed higher for the week ending November 21, adding five rigs. vs a week ago for a total of 554 according to Baker Hughes data. Rigs were added in the Niobrara (+3), Permian (+1), Anadarko (+1) and Appalachia (+1), while the All Other group (-1) was the only weekly decline. Total US rig count is up 15 in the last 90 days and down 30 from this week a year ago. Oil-directed rigs (419, +2), gas-directed rigs (127, +2) and miscellaneous rigs (8, +1) all posted gains for the week.
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- Analyst Insight
U.S. Rig Count More Disappointing Than Dry Thanksgiving Turkey
U.S. oil and gas rig count posted its largest weekly decline since 2023, dropping ten rigs for the week of November 26 according to Baker Hughes data. The Haynesville (+1) was the only basin to add rigs, while the Permian (-3), Eagle Ford (-3), Anadarko (-1), Gulf of Mexico (-1) and All Other (-3) all had losses. Total US rig count stands at 544 and is up six in the last 90 days, but down 39 from this week a year ago. Oil-directed rigs at 407 (-12) dropped sharply on the week, with gas-directed rigs climbing to 130 (+3) and miscellaneous rigs falling to 7 (-1).
- Analyst Insight
U.S. Rig Count Climbs to 549 To Begin December
U.S. oil and gas rig count erased some of last weeks losses, climbing by five rigs to 549 for the week ending December 5 according to Baker Hughes data. Rigs were added in the Haynesville (+1), Gulf of Mexico (+1) and All Other (+3), while no basins reported declines. Total U.S. rig count is up 13 in the last 90 days, and down 33 from this week a year ago. Oil-directed rigs climbed to 413 (+6), while gas-directed rigs fell to 129 (-1) and miscellaneous rigs were unchanged at 7.
- Analyst Insight
US Rig Count Climbs To 548 To Begin November
US oil and gas rig count added two rigs vs. a week ago to climb to 548 for the week ending November 7 according to Baker Hughes. Rigs were added in the Haynesville (+1), Gulf of Mexico (+1) and All Other (+4), while the Eagle Ford (-2), Anadarko (-1) and Niobrara (-1) all lost rigs. Total US rig count is up 9 in the last 90 days, and down 37 from this week a year ago. Oil-directed rigs were flat this week at 414, with gas-directed rigs climbing to 128 (+3) and miscellaneous rigs down to 6 (-1).
