US oil and gas rig count climbed to 680 (+6) for the week ending July 7 according to Baker Hughes, the first weekly gain for rigs since April 28. Rigs were added in the Haynesville (+2), Permian (+1), Gulf of Mexico (+1) and All Other (+3), while the Eagle Ford (-1) lost one rig. Total rig count is down 71 in the past 90 days, and down 72 vs. this week a year ago. Gas directed rigs led this weeks gains increasing by 11, while oil directed rigs actually declined week over week falling five to 540.
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- Analyst Insight
US Oil and Gas Rig Count Jumps By Seven Rigs For Largest Gain Since July
US oil and gas rig count climbed to 549 rigs for the week ending September 26, an increase of seven rigs vs. a week ago and the largest gain since July according to Baker Hughes data. Rigs were added in the Eagle Ford (+4), Appalachia (+1) and All Other (+5), while the Permian (-1), Haynesville (-1) and Gulf of Mexico (-1) all declined vs. a week ago. Within the All Other group, notable moves were the Texas Gulf Coast (+2), State Offshore (+2) and Granite Wash (+1). Total US rig count is up two in the last 90 days, but down 38 from this week a year ago. Oil-directed rigs climed to 424 (+6) on the week, with gas-directed rigs falling to 117 (-1) and miscellaneous rigs up to 8 (+2).
- 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
US Rig Count Begins August With Small Decline, Gas Rig Gains Continue
US oil and gas rig count declined by two for the first week of the new month, dropping to 540 rigs for the week ending August 1 according to Baker Hughes. One rig was added in the All Other group, while the Permian, Anadarko and Gulf of Mexico each lost one rig. Total US rig count is down 44 in the last 90 days, and down 46 vs. this week a year ago. Gas-directed rigs continue to make gains at the expense of oil-directed rigs, increasing for the fourth consecutive week and climbing to 124 (+2), a gain of 16 since the first week of July. Oil-directed rigs stand at 410 (-5), with miscellaneous rigs up slightly to 6 (+1).
