US oil and gas rig count posted a small gain this week led by gains in the Gulf of Mexico. Total rig count climbed to 550 for the week ending October 24 according to Baker Hughes data, a gain of two vs. a week ago. Rigs were added in the Gulf of Mexico (+4) and Niobrara (+2), while the Permian (-1), Eagle Ford (-1), Haynesville (-1) and All Other (-1) all lost rigs. Total US rig count is up eight in the last 90 days, and down 35 vs. this week a year ago. Oil-directed rigs increased to 420 (+2) this week, while gas-directed rigs held flat at 121 and miscellaneous rigs were flat at 9.
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- Analyst Insight
US Oil & Gas Rig Count Falls Slightly In Last Week of October
US oil and gas rig count fell to close out the last week of the month, declining by four rigs vs. a week ago to 546 for the week ending October 31 according to Baker Hughes data. Rigs were added in the Permian (+1) and All Other (+1), while the Niobrara (-3), Haynesville (-2) and Gulf of Mexico (-1) all lost rigs. Total US rig count is up six in the last 90 days and down 39 from this week a year ago. Oil-directed rigs fell to 414 (-6) this week, with gas-directed rigs climbing to 125 (+4) and miscellaneous rigs falling to 7 (-2).
- Analyst Insight
US Rig Count Climbs To 548 To Begin November
US oil and gas rig count added two rigs vs. a week ago to climb to 548 for the week ending November 7 according to Baker Hughes. Rigs were added in the Haynesville (+1), Gulf of Mexico (+1) and All Other (+4), while the Eagle Ford (-2), Anadarko (-1) and Niobrara (-1) all lost rigs. Total US rig count is up 9 in the last 90 days, and down 37 from this week a year ago. Oil-directed rigs were flat this week at 414, with gas-directed rigs climbing to 128 (+3) and miscellaneous rigs down to 6 (-1).
- Analyst Insight
Gas-Directed Rigs Continue Gains, Overall U.S. Drilling Activity Flat
Gas-directed drilling activity continued last week's gains, despite overall U.S. rig count remaining flat at 551 for the week ending February 13 according to Baker Hughes.
