US oil and gas rig count was up slightly for the week ending April 19 according to Baker Hughes data climbing to 619, an increase of two vs. a week ago. Rigs were added in the Permian (+2), Anadarko (+1) and Gulf of Mexico (+1), while Appalachia (-1) and All Other (-1) both lost rigs. Total US rig count is down one in the last 90 days, and down 134 from this week a year ago. Oil-directed rigs were up five this week to 511, while gas-directed rigs were down three to 106. Low natural gas prices have continued to hurt rig count in the gas directed Haynesville, which is down 11 in the last 90 days. On the flip side the strongest performing oil directed basin in that same timeframe was the Permian which added 11 rigs.
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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 Increases For Second Consecutive Week - Adding Two Rigs To Reach 755
US Oil and Gas rig count increased for the second week, climbing two rigs to reach a total of 755 according to Baker Hughes data for the week ending April 28.
- Analyst Insight
US Rig Count Climbs For Second Consecutive Week, Despite Continued Low Gas Prices
US oil and gas rig count grew for the second consecutive week, climbing to 629 for the week ending March 1 according to Baker Hughes, a gain of three vs. a week ago. Rigs were added in the Permian (+1), Anadarko (+1), Appalachia (+1), Gulf of Mexico (+1) and All Other (+1) while the Haynesville (-2) was the only basin to lose rigs. Total US rig count is up four in the last 90 days, and down 120 compared to this week a year ago. Rigs in oil directed basins grew to 506 (+3), while lower gas prices continued to impact rig count in gas directed basins which fell to 119 (-1). Miscellaneous rigs increased by one vs. a week ago.
