The rig count in the Permian and Eagle ford basins rose last week after two weeks of continued declines in drilling activity
The total number of active drilling rigs in the United States rose by 3 this week after falling 4 last week, according to new data from Baker Hughes published Friday. The total rig count rose to 622 this week. So far this year, Baker Hughes has estimated a loss of 157 active drilling rigs. This week’s count is 453 fewer rigs than the rig count at the beginning of 2019 prior to the pandemic. The number of oil rigs rose by 4 to 501, down by 120 so far in 2023.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing unfinished, rose in the week ending October 6, to 260, up from 255 in the week prior. The frac spread count is 2 more than where it started the year. Crude oil production levels in the United States rose to 13.2 million bpd for week ending October 6, according to the latest weekly EIA estimates, reaching the highest production level in the United States ever. U.S. production levels are now up 1.
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