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 three.
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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 Falls To 748 (-7) Led By Decline In Permian
US oil and gas rig count gave back gains from the past 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.
- Analyst Insight
Another Rough Week For US Rig Count As US Total Declines to 539
US oil and gas rig count opened the month of July with another week-on-week decline, falling to 539 for the week ending July 3, a decline of eight vs. a week ago according to Baker Hughes. The Haynesville (+1) was the only basin to post an increase, while the Permian (-5), Anadarko (-2), Appalachia (-1) and Niobrara (-1) all posted declines. Total US rig count is down 51 in the last 90 days and down 46 vs. this week a year ago. The Haynesville is the only basin where rig count increased in the last 90 days, increasing from 32 rigs in April to 40 this week. Oil-directed US rig count stands at 425 (-7), while gas-directed rig count is also down week-on-week at 108 (-1) and miscellaneous rigs were flat at six.
