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.
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- Analyst Insight
Permian Basin Leads Decline In US Rig Count
The Permian Basin led this week's decline in oil and gas rig count with total US rigs falling to 632, a decline of 10 vs. a week ago according to Baker Hughes.
- Analyst Insight
US Rig Count Posts Decline Despite Solid Gains In Anadarko & Permian
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.
- Analyst Insight
Rigs Dip For Second Consecutive Week In June
US oil and gas rig count declined for the second consecutive week, falling to 590 for the week ending June 14, a decline of 4 vs. a week ago according to Baker Hughes. Rigs were added in the Eagle Ford (+1), while the Permian (-1), Haynesville (-1), Anadarko (-1), Gulf of Mexico (-1) and All Other (-1) all lost rigs. Total US rig count is down 39 in the last 90 days, and down 97 from this week a year ago. Oil-directed rigs fell to 488 (-4), while gas-directed rigs were flat at 98.
