Total US rig count was up slightly to end the week of November 17, increasing by two vs. a week ago for a total of 618 according to Baker Hughes. Rigs were added in the Bakken (+2), Permian (+1), Haynesville (+1) and Anadarko (+1), while the Eagle Ford (-2) and Appalachia (-1) both lost rigs. Total US rig count is down 24 in the last 90 days, and down 164 vs. this week a year ago. Oil directed rigs were up six vs. a week ago, while gas directed rigs were down four.
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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 Up Slightly to 604 On Gains In Anadarko
US oil and gas rig count was up slightly to 604 for the week ending May 16, up one vs. a week ago according to Baker Hughes. Rigs were added in the Anadarko (+2), Haynesville (+1) and Gulf of Mexico (+1), while the Permian (-2) and Eagle Ford (-1) both lost rigs. Total rig count is down 17 in the last 90 days, and down 116 from this week a year ago. Oil-directed rigs were up one vs. a week ago to 497, while gas-directed rigs were flat at 103 and miscellaneous rigs were flat at four.
- 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.
