Baker Hughes reports a six-rig increase in active US oil and gas drilling rigs this week, reaching 582. However, US crude oil production continues its downward trend, hitting a new low since November 2024. Frac spread count also declines for the third consecutive week.
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, after a 4-rig drop in each of the two weeks prior. The total rig count rose by six rigs, to 582, according to Baker Hughes, down 37 from this same time last year. The number of oil rigs rose by 7down by 20 compared to this time last year. The number of gas rigs fell by 1, reaching 98, a loss of 19 active gas rigs from this time last year.
Primary Vision's Frac Spread Count, an estimate of the number of crews completing wells that are unfinished also fell for the third week in a row. Finishing crews are now down to 183 during the week of January 24, falling from 188 in the week prior. The frac spread count is now at its lowest level since March 2021. There was a spike in drilling activity in the Permian Basin, with the basin seeing a 5-rig climb to 303 active rigsa figure that is still 8 fewer than this same time last year.
DRILLING OIL PRODUCTION GAS RIGS PERMIAN BASIN EIA
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