Key facts
- The total U.S. oil and gas rig count remained stable at 588 this week.
- Active oil rigs decreased by 5 to 447.
- Active gas rigs increased by 5 to 132.
- U.S. crude oil production averaged 13.843 million barrels per day for the week ending August 21.
- Frac Spread Count, an estimate of well completion crews, fell by 9 to 184.
The total number of active drilling rigs for oil and gas in the United States remained unchanged this week at 588, an increase of 52 rigs compared to the same period last year. The number of active oil rigs fell by 5 to 447, while the number of active gas rigs rose by 5 to 132. Miscellaneous rigs stayed at 9.
Weekly U.S. crude oil production averaged 13.843 million barrels per day for the week ending August 21, a slight increase from the previous week and significantly higher than a year ago. However, the number of frac spread crews, which estimate well completion activity, decreased by 9 to 184.
Rig counts in key production areas like the Permian Basin and Eagle Ford remained stable week-over-week. Oil prices were down on Friday, with Brent crude trading at $89.36 per barrel and WTI at $83.21 per barrel.