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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 548 this week, according to Baker Hughes, down 37 from this same time last year.
The number of active oil rigs stayed the same in the reporting period, according to the data, at 414. Year over year, this represents a 65-rig decline. The number of gas rigs rose by 3 to 128, which is 26 more than this time last year. The miscellaneous rig count fell by 1 to 6.
The latest EIA data showed that weekly U.S. crude oil production rose in the week ending October 31, with crude oil production reaching 13.651 million bpd—another new high—up from 13.644 million bpd in the week prior.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell by 3 for the second week in a row, to 175 in the week ending October 31. Frac crews are down by 26 from the start of the year.
The number of active drilling rigs in the Permian Basin stayed at 251 this week, which is 52 rigs under year-ago levels. The count in the Eagle Ford fell by 1 this week t 42, which is 6 fewer than this same time last year.
By 11:58 a.m. ET, the WTI benchmark was trading up on the day by $0.28 per barrel at $59.71, which is down $0.80 week on week. The Brent benchmark was trading up $0.23 per barrel on Friday at $63.61.
