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Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her…
The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 588, up 51 from this same time last year.
The number of active oil rigs rose by 2, reaching 449 during the latest reporting period, according to the data. This is 35 above this same time last year. The number of gas rigs fell by 2 to 130, which is 12 more than this time last year. Miscellaneous rigs stayed the same at 9.
The latest EIA data showed that weekly U.S. crude oil production rose during the week ending August 28. US crude oil production averaged 13.862 million bpd during the reporting period, up from 13.843 million bpd last week and up 423,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell by 4 in the week ending August 28, to 180 crews, on top of the 9-crew loss in the week prior.
The number of active drilling rigs in the Permian Basin rose by 1 during the reporting period, hitting 268. This is 14 rigs above year-ago levels. The count in the Eagle Ford stayed the same at 50, which is 11 more than this same time last year.
Oil prices were down on Friday prior to the data release, with Brent now trading at $95.27 (-0.26%) per barrel. WTI was also trading down on the day at $90.60 (-0.77%).
Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her…
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