US oil and gas rig count declined for the fifth consecutive week, dropping to 563 for the week ending May 30 according to Baker Hughes data. The Permian (-1), Anadarko (-1) and Appalachia (-1) all lost rigs, while no basins reported gains. Total US rig count is down 30 in the last 90 days, and down 37 from this week a year ago. Oil-directed rigs stand at 461 (-4), gas-directed rigs at 99 (+1) and miscellaneous rigs at 3.
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- 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).
- Analyst Insight
US Rig Count Declines To 578 Led By Losses In Permian, Gulf of Mexico
US oil and gas rig count declined to 578 for the week ending May 9, a decline of six vs a week ago according to Baker Hughes. The Gulf of Mexico (-2), Permian (-2), Niobrara (-1) and All Other (-1) all posted declines, while no basins reported gains. Total US rig count is down nine in the last 90 days, and down 26 from this week a year ago. Oil-directed rigs stand at 474 and declined by five this week, while gas-directed rigs were unchanged at 101 and miscellaneous rigs declined by one to three rigs.
- Analyst Insight
Led By Declines In Niobrara, US Rig Count Declines For The Ninth Consecutive Week
US oil and gas rig count continued its multi-month slide, with total rig count falling by seven rigs to 547 for the week ending June 27 according to Baker Hughes data. Rigs declined in the Niobrara (-3), Permian (-1), Anadarko (-1) and All Other (-2), while no basins reported gains. Total US rig count is down 45 in the last 90 days, and down 34 vs. this week a year ago. Oil-directed rigs fell to 432 (-6) on the week, with gas-directed rigs falling to 109 (-2) and miscellaneous rigs increasing to six (+1).
