US oil and gas rig count posted a weekly decline on the first week of the new month, falling by three rigs to 584 for the week ending May 2 according to Baker Hughes data. Rigs were added in the Haynesville (+1) and Gulf of Mexico (+1), while the Permian (-2) and Appalachia (-3) both posted declines for the week. Total US rig count is up two in the last 90 days, but down 21 from this week a year ago. Oil-directed rig count fell to 479 (-4) on the week, while gas-directed rigs climbed to 101 (+2) and miscellanous rigs declined by one rig to four.
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- Analyst Insight
US Rig Count Continues Downward Trend To Begin October, Even As Gas Rigs Climb Back Past 100
US oil and gas rig count continued last weeks downward trend falling to 585 for the week ending October 4, a decline of two. vs. a week ago according to Baker Hughes. Rigs were added in the Haynesville (+1), Appalachia (+1) and Niobrara (+1), while the Permian (-2), Anadarko (-2) and Gulf of Mexico (-1) all lost rigs. Total US rig count is flat vs. 90 days ago, and down 34 vs. this week a year ago. Gas-directed rigs climbed by three this week to 102 on rising prices and the beginning of higher winter demand, the first time they have exceeded 100 since late July. Oil-directed rigs (479) declined by five for the week and miscellaneous rigs (4) were flat.
- Analyst Insight
US Oil & Gas Rig Count Down
US oil and gas rig count posted its largest week-on-week decline of the year, declining by seven rigs vs. a week ago to 583 for the week ending April 11 according to Baker Hughes. Basins reporting declines this week include the Permian (-4), All Other (-2), Eagle Ford (-1), Appalachia (-1) and the Gulf of Mexico (-1), while the Haynesville (+2) was the only basin to report an increase. Total US rig count is down one in the last 90 days, and down 34 from this week a year ago. Oil-directed rigs declined by nine on the week to 480, while gas-directed rigs (97) and miscellaneous (6) both increased by one for the week.
- Analyst Insight
Rig Count Gains In Niobrara Aren't Enough To Offset Losses In Permian, Anadarko
US oil and gas rig count declined for the eighth consecutive week, falling to 554 for the week ending June 20 - a decline of one vs. a week ago according to Baker Hughes data. Rigs were added in the Niobrara (+3), Haynesville (+1) and Gulf of Mexico (+1), while the Permian (-2), Anadarko (-2) and All Other (-2) all posted week-on-week declines. Total US rig count is down 39 in the last 90 days, and down 34 from this week a year ago. Oil-directed rigs declined to 438 (-1) on the week, while gas-directed rigs fell to 111 (-2) and miscellaneous rigs grew to 5 (+2).
