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Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her…
The total number of active drilling rigs for oil and gas in the United States remained unchanged this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 55 from this same time last year.
The number of active oil rigs fell by 3, to 459 during the latest reporting period, according to the data. This is 41 above this same time last year. The number of gas rigs rose by 1 to 133, which is 12 more than this time last year. Miscellaneous rigs rose by 2 to 11.
The latest EIA data showed that weekly U.S. crude oil production fell during week ending October 9. US crude oil production averaged 13.679 million bpd during the reporting period, down from 13.979 million bpd last week and up just 43,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose again during the week ending October 9—the fifth gain in as many weeks, and up 7 crews from the week prior at 203.
The number of active drilling rigs in the Permian Basin fell by 2 during the reporting period, to 272. This is 21 rigs above year-ago levels. The count in the Eagle Ford held fast at 49, which is 5 more than this same time last year.
Oil prices were down on Friday prior to the data release, with Brent now trading at $105.60 (-0.30%) per barrel, but up $2 per barrel from this time last week. WTI was also trading down on the day at $97.56 (-0.42%), although this is up nearly $6 per barrel from this time last week.
Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her…
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