Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
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, after falling in the two weeks prior.
The total rig count rose by 7, landing at 589 total rigs, according to Baker Hughes, down 37 from this same time last year.
The number of oil rigs rose by five this week to 482—down by 21 compared to this time last year. The number of gas rigs rose by two rigs, landing at 102, a loss of 17 active gas rigs from this time last year. Miscellaneous stayed the same at 5.
Meanwhile, U.S. crude oil production rose to 13.513 million bpd—its highest point ever, after reaching its highest level ever in the week ending November 29, Energy Information Administration (EIA) data shows.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, fell in the week ending November 28, from 221 to 215—down 21 from the beginning of the year.
Drilling activity in the Permian rose by 1 to 304—a figure that is 9 fewer than this same time last year. The count in the Eagle Ford also stayed the same at 48. Rigs in the Eagle Ford are now just 4 below where they were this time last year.
Oil prices were trading up on Friday before the data release. At 11:31 a.m. ET, the WTI benchmark was trading down $0.99 (-1.45%) on the day at $67.31, down nearly $1.71 per barrel compared to last Friday’s price. The Brent benchmark was trading down $0.92 (-1.28%) on the day at $71.17—down almost $4 per barrel compared to last Friday’s price despite OPEC+ extending production cuts well into next year.
