Key facts
- The number of active oil rigs in the U.S. rose by 3 to 454.
- The number of active gas rigs fell by 3 to 124.
- The total U.S. rig count remained unchanged at 588.
- U.S. crude oil production averaged 13.804 million barrels per day for the week ending July 31.
- Active drilling rigs in the Permian Basin increased by 3 to 263.
The total number of active drilling rigs for oil and gas in the United States remained unchanged at 588 this week, according to data published by Baker Hughes. This figure is up 49 rigs compared to the same time last year.
The number of active oil rigs increased by 3 to reach 454, marking a 43-rig increase from the previous year. Conversely, the number of gas rigs fell by 3 to 124, which is one more than a year ago. Miscellaneous rigs stayed at 10.
Recent data from the EIA indicated a slight rebound in U.S. crude oil production for the week ending July 31, averaging 13.804 million barrels per day. This is an increase from the previous week and 520,000 barrels per day higher than a year ago.
However, Primary Vision's Frac Spread Count, which estimates the number of crews completing wells, decreased by 4 to 194 crews in the week ending July 31.
The Permian Basin saw an increase of 3 active drilling rigs, bringing its total to 263, which is 7 rigs above year-ago levels. The count in the Eagle Ford remained steady at 49, 11 more than last year.
Oil prices were up on Friday, with Brent trading at $83.55 per barrel and WTI at $78.21 per barrel.