US oil and gas rig count posted its largest gain since September 2023, climbing five rigs vs. a week ago to 626 for the week ending February 23 according to Baker Hughes. Rigs were added in the Permian (+2), Anadarko (+2), Eagle Ford (+1) and Gulf of Mexico (+1), while Appalachia (-1) posted a small decline. Total rig count is up four in the last 90 days, and down 127 vs. this week a year ago. Oil directed rigs (626) were up six vs. last week, while gas directed rigs (120) were down one.
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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 Rebounds, Climbs to 582 On Gains In Permian
US oil and gas rig count posted its first weekly gain of the year, climbing to 582 for the week ending January 31 - an increase of six vs. a week ago according to Baker Hughes. This marks the first gain for rig count since December 6 of last year. Rigs were added in the Permian (+5), Anadarko (+1) and Bakken (+1), while the Gulf of Mexico (-1) was the only basin to post a decline. Total US rig count is down three in the last 90 days, and down 37 from this week a year ago. Oil-directed rigs posted their largest weekly gain in nearly two years climbing to 479 (+7), while gas-directed rigs fell to 98 (-1) and miscellaneous rigs were flat at five.
- Analyst Insight
US Rig Count Posts Largest Gain In 12 Months, Climbs to 590
US oil and gas rig count posted its largest increase in a year for the week ending September 13, increasing by eight rigs vs. a week ago and climbing to 590. This marks the largest week on week increase since September 15, 2023 when nine rigs were added. Rigs were added in the Niobrara (+3), Gulf of Mexico (+2), Eagle Ford (+1), Anadarko (+1) and All Other (+1). Total US rig count is flat vs. 90 days ago, and down 51 from this week a year ago. Oil-directed rigs (488) increased by five for the week, while gas-directed rigs (97) increased by three and miscellaneous rigs (5) were flat.
