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The total number of active drilling rigs for oil and gas in the United States fell by 1 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 548 this week, according to Baker Hughes, down 41 from this same time last year.
The number of active oil rigs rose by 1 in the reporting period, according to the data, after US drillers added 6 rigs in the week prior. Oil rigs are now at 414, which is 68 below this same time last year. The number of gas rigs fell by 2 to 127, which is 24 more than this time last year. The miscellaneous rig count stayed the same at 7.
The latest EIA data showed that weekly U.S. crude oil production rose by 38,000 bpd in the week ending December 5 to 13.853 million bpd on average, just 9 million bpd under the all-time high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, stayed the same during the week ending December 5, stalling at 173 for the second week in a row. This is down from 201 at the beginning of the year.
The number of active drilling rigs in the Permian Basin stayed the same last week at 249 this week, which is 55 rigs under year-ago levels. The count in the Eagle Ford rose by 1, landing at 39, which is 7 fewer than this same time last year.
By 10:08 a.m. ET, the WTI benchmark was trading down on the day, giving up $0.14 per barrel to $57.46—a nearly $3 per barrel loss week over week. The Brent benchmark was trading down $0.20 per barrel, at $61.08, also a nearly $3 per barrel loss week over week.
