US oil and gas rig count grew to 758 for the week ending 3/24 according to Baker Hughes, an increase of four vs. last week's numbers. Rigs were added in the Permian (+3), Niobrara (+1) and Gulf of Mexico (+1), while All Other basins posted a slight decline (-1). Total rig count is down 21 in the last 90 days, and up 88 vs. a year ago.
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- Analyst Insight
US Rig Count Falls For Second Consecutive Week, Dropping To 751
US oil and gas rig count posted its second consecutive decline for the week ending April 6, falling 4 from last week's numbers to a total of 751 according to Baker Hughes. The decline was relatively small and spread out across multiple basins with one rig added in the Permian while the Eagle Ford, Anadarko, Bakken, Niobrara and Gulf of Mexico all lost one rig each. Total rig count is down 21 in the last 90 days, but up 62 vs. this week a year ago.
- Analyst Insight
Rig Count Continues To Slide, Falls Below 650 For First Time Since Early 2022
The slow decline for US oil and gas rig count continued this week, with total rig count at 642 for the week ending August 18, a decline of 12 vs. a week ago according to Baker Hughes. No basins added rigs, while most posted declines including Appalachia (-3), Anadarko (-2), Bakken (-2), Haynesville (-1), Niobrara (-1), Gulf of Mexico (-1) and All Other (-2). Total rig count is down 78 in the past 90 days, and down 120 vs. this week one year ago.
- Analyst Insight
US Rig Count Declines By 6 vs. Week Ago, Dips To Lowest Level In Two Years
US oil and gas rig count fell to 613 for the week ending April 26, a decline of six vs. last week according to Baker Hughes. This marks the lowest level for the US rig count since February 2022. Rig count declined in the Gulf of Mexico (-3), Permian (-1), Appalachia (-1) and Niobrara (-1), while no basins posted gains. Total rig count is down eight in the last 90 days, and down 142 from the same week a year ago. Oil-directed rigs at 506 (-5) led this week's losses, while gas-directed rigs 105 (-1) fared slightly better.
