The total number of active drilling rigs for oil and gas in the United States stayed the same overall this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 588, up 49 from this same time last year.
The number of active oil rigs rose by 3, reaching 454 during the latest reporting period, according to the data. This is 43 above this same time last year. The number of gas rigs fell by 3 to 124, which is 1 more than this time last year. Miscellaneous rigs stayed at 10.
The latest EIA data showed that weekly U.S. crude oil production rebounded slightly during week ending July 31. US crude oil production averaged 13.804 million bpd during the reporting period, up from 13.796 million bpd last week and up 520,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell by 4 in the week ending July 31, to 194 crews, after gaining 2 in the week prior.
The number of active drilling rigs in the Permian Basin rose by 3 in the reporting period, hitting 263. This is 7 rigs above year-ago levels. The count in the Eagle Ford stayed the same at 49, which is 11 more than this same time last year.
Oil prices were up on Friday with Brent now trading at $83.55 (+1.29%) per barrel. While up on the day, it is down $6 per barrel from this time last week. WTI was also trading up on the day at $78.21 (+1.19%).
By Julianne Geiger for Oilprice.com
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