US oil and gas rig count continues to be stagnant, with total US rigs at 621 for the week ending January 26 according to Baker Hughes, a gain of one vs. a week ago. Rigs were added in the Permian (+3) and Niobrara (+1), while the Eagle Ford (-1), Haynesville (-1) and Gulf of Mexico (-1) all lost rigs. Total US rig count is down four in the last 90 days, and down 150 vs. this week a year ago.
Rig count has remained flat in the 620-625 range since early October 2023. The Anadarko (+5), Appalachia (+3) and Bakken (+2) have made small gains during this timeframe, while the Gulf of Mexico (-5), Niobrara (-4), Permian (-3) and All Other (-3) have all posted small declines.
