US oil and gas rig count posted its second consecutive decline for the week ending April 6, falling 4 from last week's numbers to a total of 751 according to Baker Hughes. The decline was relatively small and spread out across multiple basins with one rig added in the Permian while the Eagle Ford, Anadarko, Bakken, Niobrara and Gulf of Mexico all lost one rig each. Total rig count is down 21 in the last 90 days, but up 62 vs. this week a year ago.
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- Analyst Insight
US Rig Count Posts Third Consecutive Decline To Close Month of August
US oil and gas rig count posted it's third consecutive weekly decline, dropping two rigs vs. a week ago and falling to 583 for the week ending August 30 according to Baker Hughes. Rigs were added in the Anadarko (+2), Eagle Ford (+1) and Gulf of Mexico (+1), while Appalachia (-2), Permian (-1), Haynesville (-1), Niobrara (-1) and All Other (-1) all lost rigs. Total US rig count is down 17 in the last 90 days, and down 48 from this week a year ago. Oil-directed rigs (483) were flat this week, while gas-directed rigs declined by two to 95.
- 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 Continues To Fall, Dropping to 682
US Oil and Gas rig count continued to decline this week, falling to 682 rigs for the week ending June 23 according to Baker Hughes.
