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US active oil and gas rig count rises to 588 as Brent jumps
Baker Hughes data showed 588 total rigs in the US, including 452 oil rigs and 126 gas rigs, while US crude output averaged 13.861 million bpd for the week ending July 10.
Oil prices rose on Friday as new data pointed to continued expansion in US drilling activity. Brent was trading around $87.65 per barrel, up about 4.1%, while WTI was around $82.23, up about 4.2%.
According to Baker Hughes, the total number of active oil and gas drilling rigs in the United States increased to 588. That was up 44 from the same time last year, with active oil rigs climbing by 7 to 452, and gas rigs holding at 126, unchanged on the period.
The report also said the number of gas rigs was 9 more than this time last year, while miscellaneous rigs stayed at 10. In addition, EIA data cited in the piece showed weekly US crude oil production rose during the week ending July 10, averaging 13.861 million bpd.
Other drilling regional details included the Permian Basin rig count rising by 3 to 259, while the Eagle Ford count stayed flat at 47. Primary Vision’s frac spread count fell by 5 to 200 crews for the week ending July 10 after a gain in the prior week.
Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%