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The total number of active drilling rigs for oil and gas in the United States stayed the same again this week, according to new data that Baker Hughes published on Friday, after seeing no change in the two weeks prior.
The total rig count remained flat at 589 total rigs, according to Baker Hughes, down 33 from this same time last year.
The number of oil rigs held fast at 483—down by 17 compared to this time last year. The number of gas rigs also stayed the same, at 102, a loss of 18 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 4.
New EIA data for weekly U.S. crude oil production for the week ending December 20 was unavailable at the time of writing.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, fell again in the week ending December 20, from 217 to 210—down 26 from the beginning of the year.
There was no change in drilling activity in the Permian Basin, hovering at 304 active rigs—a figure that is 5 fewer than this same time last year. The count in the Eagle Ford fell by 1 rig to 45. Rigs in the Eagle Ford are now just 8 below where they were this time last year.
Oil prices were trading up on Friday before the data release. At 12:32 p.m. ET, the WTI benchmark was trading up $0.59 per barrel (+0.85%) on the day at $70.21, up almost $1 per barrel compared to last Friday’s price. The Brent benchmark was trading up $0.52 (+0.71%) on the day at $73.78—also up roughly $1 per barrel compared to last Friday’s price.
