US oil and gas rig count gave back gains from the previous two weeks today, with total rig count falling to 748 for the week ending May 5, a loss of seven vs. a week ago according to Baker Hughes. Rigs were added in the Anadarko (+1) and Gulf of Mexico (+1), while the Permian (-5), Eagle Ford (-2), Haynesville (-1) and Bakken (-1) all posted declines. Total US rig count is down 11 in the past 90 days, but up 43 vs. 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 Gives Back All Of Last Week's Gains, Drops To 630
US oil and gas rig count gave back all of its gains from last week and then some, falling to 630 rigs for the week ending September 22, a decline of 11 vs. last week according to Baker Hughes. No basins added rigs, while the Permian (-5), Haynesville (-2), Anadarko (-2), Niobrara (-1) and All Other (-1) all posted declines. Total US rig count is down 52 in the last 90 days, and down 134 vs. this week a year ago. Oil directed rigs fell by eight, while gas directed rigs fell by 11.
- 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).
