US oil and gas rig count continued the slide that began in early May, with rig count for the week ending June 2 falling to 696 according to Baker Hughes, a decline of 15 vs. a week ago. This marks the first time since April 2022 that rig count is below 700. Most major basis saw declines, including the Eagle Ford (-4), Anadarko (-3), Permian (-2), Haynesville (-2), Bakken (-1), Niobrara (-1) and All Other (-2). Total rig count has declined 53 in the past 90 days, and declined 31 vs. this week a year ago.
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- 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 Continues To Fall, Dropping to 682
US Oil and Gas rig count continued to decline this week, falling to 682 rigs for the week ending June 23 according to Baker Hughes.
- Analyst Insight
US Rig Count Posts Largest Weekly Decline In Three Years
US oil and gas rig count was clobbered this week, falling by 17 rigs to 731 for the week ending May 12, according to Baker Hughes. This weeks decline was led by gas focused basins, and represents the largest weekly decline in three years.
