U.S. oil and gas drilling activity experiences a slowdown as the number of active drilling rigs decreases and oil prices continue to fall, impacting production and industry sentiment.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 3 to 586 this week, compared to 659 rigs this same time last year. The number of oil rigs stayed the same this week, after gaining five rigs in the week prior. Oil rigs now stand at 482—down by 43 compared to this time last year.
3 million bpd. Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, rose in the week ending July 26, from 228 to 237, after falling sharply in the week prior. Drilling activity in the Permian fell by 1 again this week to 303, a figure that is 26 fewer than this same time last year. The count in the Eagle Ford stayed the same this week, sitting at 50 after climbing by 1 rig in the week prior.
Baker Hughes Rig Count Oil Rigs Gas Rigs U.S. Crude Oil Production Permian Basin Eagle Ford Oil Prices Energy Industry
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