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.
The total rig count in the US rose to 549, according to Baker Hughes, down 38 from this same time last year.
US drillers added 6 oil rigs in the week, according to the data, reaching 424. Year over year, this represents a 60-rig decline. The number of gas rigs fell by 1 to 117 active rigs, which is 18 over this tame time last year. The miscellaneous rig count rose by 2 to 8.
The latest EIA data showed that weekly U.S. crude oil production rose in the week ending September 19, from 13.482 million bpd to 13.501 million bpd. Average weekly oil production in the United States is now 61,000 barrels per day under where it was at the beginning of the year.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose for the week ending September 19 to 174—the third weekly rise. This is 12 crews above the four-year low.
The Permian Basin fell to 253 this week, which is 53 rigs under year-ago levels. The count in the Eagle Ford grew from 42 to 45, which is just 3 fewer than this same time last year.
At 12:49 p.m. ET, the WTI benchmark was trading up $0.90 per barrel (+1.39%) on the day at $65.88, a figure that is $3 above this time last week. The Brent benchmark was trading up $0.82 (+1.18%) on Friday at $70.24.
Credit: Oilprice.com
