US oil and gas rig count declined for the second consecutive week, falling to 580 for the week ending January 17 - a decline of four vs. a week ago according to Baker Hughes. Rigs additions in the Niobrara (+1) and All Other (+1) were not enough to offset the losses in the Bakken (-4) and Haynesville (-2). Total US rig count is down five in the last 90 days, and down 40 vs. this week a year ago. Gas-directed rigs fell to 98 (-2) for the week, with oil-directed rigs falling to 478 (-2) and miscellaneous rigs steady at four.
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- Analyst Insight
US Rig Count Climbs On Small Gains In Multiple Basins
US oil and gas rig count increased for the second consecutive week, adding four rigs vs. a week ago and climbing to 586 for the week ending February 7 according to Baker Hughes data. Rigs were added in the Haynesville (+2), Eagle Ford (+1), Niobrara (+1), Gulf of Mexico (+1) and All Other (+1), while the Anadarko (-1) was the only basin to post a loss. Total US rig count is up one in the last 90 days and down 37 vs. this week a year ago. Oil-directed rigs climbed to 480 (+1) this week, with gas-directed rigs at 100 (+2) and miscellaneous rigs at 6 (+1).
- Analyst Insight
US Rig Count Slides To 576 On Losses in Permian
US oil and gas rig count fell to 576 for the week ending January 24, a decline of four vs. a week ago and marking the first week below 580 in four years according to Baker Hughes data. Rigs were added in the Eagle Ford (+2) and Anadarko (+1), while the Permian (-6) and All Other (-1) both posted week-on-week declines. Total US rig count is down nine in the last 90 days, and down 45 from this week a year ago. Oil-directed rigs stand at 472 (-6), while gas-directed rigs stand at 99 (+1) and miscellaneous rigs at five (+1).
- Analyst Insight
US Rig Count Falls To 584 After Four Weeks of No Change
After five consecutive weeks at 589, US oil and gas rig count fell to 584 for the week ending January 10 according to Baker Hughes data, a decline of five. Rigs were added in the Anadarko (+3), while the Eagle Ford (-3), Niobrara (-1) and All Other (-4) all lost rigs. Total US rig count is down two in the last 90 days, and down 35 from this week a year ago. Oil-directed rig count stands at 480 (-2), with gas-directed rig count at 100 (-3) and miscellaneous rigs at four.
