Key facts
- Total US oil and gas drilling rigs increased to 599 this week.
- The total rig count is up 50 from the same time last year.
- Active oil rigs rose by 3 to 455.
- Active gas rigs rose by 1 to 135.
- US crude oil production averaged 13.939 million bpd for the week ending September 18.
- The number of crews completing wells rose by 3 to 187.
The total number of active oil and gas drilling rigs in the United States rose this week, reaching 599, according to data published by Baker Hughes on Friday. This represents an increase of 50 rigs compared to the same time last year. The number of active oil rigs specifically increased by 3 to 455, which is 31 more than a year ago. Gas rigs also saw a slight rise, up by 1 to 135, an increase of 18 rigs from the previous year. Miscellaneous rigs remained unchanged at 9.
Despite the rise in drilling activity, weekly U.S. crude oil production fell for the second consecutive week ending September 18, averaging 13.939 million barrels per day. This is a slight decrease from the previous week but remains up 438,000 bpd from a year ago. Meanwhile, Primary Vision's Frac Spread Count, which estimates the number of crews completing wells, increased by 3 to 187 for the week ending September 18.
Drilling activity in the Permian Basin saw a gain of 1 rig, bringing the total to 270, which is 17 rigs above year-ago levels. The Eagle Ford region, however, lost 1 rig, settling at 50, though this is still 5 more than this time last year. Oil prices were down on Friday prior to the data release, with Brent trading at $103.83 per barrel and WTI at $92.12 per barrel.