US oil and gas rig count declined by one vs. a week ago, falling to 587 for the week ending September 27 according to Baker Hughes. Rigs were added in the All Other (+2) group, while the Eagle Ford (-1), Gulf of Mexico (-1) and Permian (-1) all lost rigs. Total rig count is up six in the last 90 days, and down 36 from this week a year ago. Oil-directed rigs (484) declined by four for the week, while gas-directed rigs (99) climbed by three and miscellaneous rigs (4) were flat.
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- Analyst Insight
Rig Count Climbs To 586, Erasing Last Week's Losses
US oil and gas rig count climbed to 586 for the week ending July 19, a gain of two vs. a week ago according to Baker Hughes. Rigs were added in the Eagle Ford (+1), Appalachia (+1) and All Other (+4), while the Haynesville (-1), Anadarko (-1), Niobrara (-1) and Gulf of Mexico (-1) all lost rigs. Within the All Other group, the Green River, Monterey Shale, Sacramento Basin, and Unita basins each added one rig. Total US rig count is down 33 in the last 90 days, and down 83 vs. this week a year ago. Oil-directed rigs declined this week to 477 (-1), while gas-directed rigs grew to 103 (+3) and miscellaneous rigs were flat at 6.
- Analyst Insight
Permian Basin Leads Decline In US Rig Count
The Permian Basin led this week's decline in oil and gas rig count with total US rigs falling to 632, a decline of 10 vs. a week ago according to Baker Hughes.
- Analyst Insight
US Rig Count Continues Downward Trend To Begin October, Even As Gas Rigs Climb Back Past 100
US oil and gas rig count continued last weeks downward trend falling to 585 for the week ending October 4, a decline of two. vs. a week ago according to Baker Hughes. Rigs were added in the Haynesville (+1), Appalachia (+1) and Niobrara (+1), while the Permian (-2), Anadarko (-2) and Gulf of Mexico (-1) all lost rigs. Total US rig count is flat vs. 90 days ago, and down 34 vs. this week a year ago. Gas-directed rigs climbed by three this week to 102 on rising prices and the beginning of higher winter demand, the first time they have exceeded 100 since late July. Oil-directed rigs (479) declined by five for the week and miscellaneous rigs (4) were flat.
