Jeremy Meier

U.S. oil and gas rig count fell by five rigs to 588 for the week ending August 21 according to Baker Hughes data, as declines in Gulf of Mexico (-2), Haynesville (-2), the Niobrara (-1) and All Other (-3) overwhelmed gains in Permian (+2) and the Eagle Ford (+1).

U.S. oil and gas rig count climbed five rigs to 593 for the week ending August 14 according to Baker Hughes data, as gains in Haynesville (+3), Permian (+2), Anadarko (+1) and All Other (+1) outpaced a two-rig decline in Gulf of Mexico.

U.S. oil and gas rig count was unchanged at 588 for the week ending August 7 according to Baker Hughes data, as a three-rig gain in Permian and a one-rig gain in Gulf of Mexico were offset by a one-rig decline in Appalachia and a three-rig decline in All Other.

On its Q2 2026 earnings call today, Permian operator Diamondback Energy reported oil production of 525 Mbbl/d, at the top end of guidance, while total production of 1,018 Mboe/d carried the company above 1 MMboe/d for the first time in its history.

On its Q2 2026 earnings call held July 30, Comstock Resources reported second-quarter production averaged 1,243 MMcfe/d, up 16% vs. Q1 2026 and up 1% vs. Q2 2025, as the late-March turn-in-lines (TILs) that depressed Q1 2026 volumes reached full production.