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US oil and gas rig count rises to 588, Baker Hughes data shows
The increase brought active oil rigs to 451, while gas rigs held steady at 127, and US crude production averaged 13.796 million bpd in the week ending July 24.
Oil and gas drilling activity in the United States ticked higher this week, according to data Baker Hughes published on Friday, with the total active rig count rising to 588. The count was up 48 compared with the same week a year earlier, the report said.
Baker Hughes data showed oil rigs rose by 1 to 451, which is 41 above year-ago levels. Gas rigs were unchanged at 127, while miscellaneous rigs stayed at 10.
The article also cited weekly EIA data showing US crude oil production averaged 13.796 million bpd for the week ending July 24. Primary Vision’s frac spread count, an estimate of active well-completion crews, increased by 2 to 198 in the same period after dropping 4 the week prior.
On regional drilling, the Permian Basin rig count rose by 2 to 260, and Eagle Ford rigs rose by 2 to 49. Oil prices were up on Friday, with Brent trading around $89.95 per barrel and WTI also higher on the day.
Latest closeWTI crude $84.21 ▼0.3%|Brent $89.45 ▼1.4%