US oil and gas rig count was unchanged for the third consecutive week, holding at 585 rigs for the week ending November 8 according to Baker Hughes. Rigs were added in the Anadarko (+2) and Appalachia (+1), while the Gulf of Mexico (-2) and Haynesville (-1) both lost rigs. Total US rig count is down three in the last 90 days, and down 31 from this week a year ago. Oil-directed rigs stand at 479, with gas-directed rigs at 102 and miscellaneous rigs at four, all unchanged from a week ago.
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- 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 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 Rig Count Down Slightly Led By Anadarko, Permian, Eagle Ford Losses
US oil and gas rig count declined for the third consecutive week, falling to 588 for the week ending June 21 according to Baker Hughes, a decline of two vs. a week ago. Rigs were added in the Haynesville (+1) and Bakken (+1), while the Anadarko (-2), Permian (-1) and Eagle Ford (-1) all lost rigs. Total rig count is down 36 in the last 90 days, and down 94 vs. this week a year ago. Oil-directed rigs stand at 485 (-3), gas-directed rigs at 98, and miscellaneous rigs at 5 (+1).
