US Oil Drillers Add Even More Rigs As Oil Prices Stay Higher
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US rising to 593, up 54 from this same time last year. The number of active oil rigs rose by 1, reaching 455 during the latest reporting period, according to the data. This is 43 above this same time last year.…
The United States saw an increase in active oil drilling rigs this week, according to data released by Baker Hughes on Friday. The total rig count in the country rose to 593, a 54 increase compared to the same period last year. Oil rigs specifically saw a 1 rig rise, reaching 455, which is 43 more than the same time last year. Meanwhile, gas rig count increased by 4 to 128, a 6 rise from last year.
The latest Energy Information Administration (EIA) data indicated a slight rebound in U.S. crude oil production during the week ending August 7. The production averaged 13.805 million barrels per day (bpd) for the week, up from 13.804 million bpd the previous week and 521,000 bpd higher than a year ago. The Primary Vision's Frac Spread Count, an estimate of the number of crews completing wells, rose by 2 to 196 crews during the same period, after losing 4 in the previous week.
The number of active drilling rigs in the Permian Basin increased by 2 in the reporting period, reaching 265, which is 10 more than the levels from a year ago. The count in the Eagle Ford remained the same at 49, an increase of 10 from the same time last year. Oil prices saw a positive trend on Friday, with Brent trading at $87.94 per barrel, up more than $4 from the previous week. West Texas Intermediate (WTI) was also trading up at $81.81 per barrel, a 0.69% increase.
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