US oil and gas rig count declined slightly for the week ending August 23 despite solid gains in several basins, dropping one rig vs. a week ago and declining to 585 according to Baker Hughes. Rigs were added in the Anadarko (+4), Permian (+3) and Haynesville (+1), while the Bakken (-2), Eagle Ford (-1) and All Other (-6) all posted week over week declines. Total US rig count is down 15 in the last 90 days, and down 47 from this week a year ago. Oil-directed rig count (483) was unchanged for the week, while gas-directed rigs (97) posted a weekly decline of 1.
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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 Unchanged for Second Consecutive Week, Holding at 585
US oil and gas rig count was unchanged for the second consecutive week, maintaining 585 rigs for the week ending November 1 according to Baker Hughes. Rigs were added in the Haynesville (+1), Appalachia (+1), Bakken (+1) and All Other (+1), while the Eagle Ford (-2), Permian (-1) and Anadarko (-1) all posted losses. Total US rig count is down one in the last 90 days, and down 33 vs. this week a year ago. Oil-directed rigs declined to 479 (-1), while gas-directed rigs grew to 102 (+1) and miscellaneous rigs held flat at four.
- 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.
