US oil and gas rig count fell to begin the month of October, falling four rigs from a week ago to 619 according to Baker Hughes. For the week ending October 6, rigs were added in the Anadarko (+2), while the Permian (-3), Bakken (-1), Niobrara (-1) and All Other (-1) all posted declines. Total rig count is down 61 in the last 90 days, and down 143 from this week a year ago. Oil directed rigs decreased by five, gas directed rigs increased by two and miscellaneous rigs decreased by one.
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- Analyst Insight
US Rig Count Down Slightly For Second Consecutive Week
US oil and gas rig count fell for the second consecutive week, dropping two vs. a week ago and falling to 619 for the week ending January 12 according to Baker Hughes. Rigs were added in the Eagle Ford (+3) and Bakken (+2), while the Niobrara (-3), Permian (-2), Haynesville (-1) and Anadarko (-1) all lost rigs. Total US rig count is down 3 in the last 90 days, and down 156 vs. this week a year ago. Oil directed rigs fell by two vs. a week ago, gas directed rigs fell by one, and miscellaneous rigs increased by one.
- 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
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.
