US oil and gas rig count was unchaged from a week ago, holding at 600 rigs for the week ending May 31 according to Baker Hughes. Rigs were added in the Eagle Ford (+1), Appalachia (+1) and Gulf of Mexico (+1), while the Permian (-2) and Anadarko (-1) both lost rigs. Total US rig count is down 29 in the last 90 days, and down 96 from this week a year ago. Oil-directed rigs declined by one to 496 this week, while gas-directed rigs gained one to reach 100.
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- Analyst Insight
US Rig Count Falls For Third Consecutive Week, Dropping To 603
US oil and gas rig count fell for the third consecutive week, dropping two rigs from a week ago and falling to 603 for the week ending May 10 according to Baker Hughes. Rigs were added in the Gulf of Mexico (+1) and All Other (+1), while the Permian (-2) and Anadarko (-2) both lost rigs. Total US rig count is down 20 in the last 90 days, and down 128 vs. this week a year ago. Oil-directed rigs declined to 496 (-3) this week, while gas-directed rigs were up slightly at 103 (+1).
- 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 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.
