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US oil and gas rig count holds steady as oil rigs rise
Baker Hughes data showed total US rig activity at 588, while oil rigs climbed to 454 and gas rigs fell to 124 during the latest reporting period.
US oil and gas drilling activity stayed broadly flat this week, with the total number of active rigs in the United States unchanged at 588, according to new Baker Hughes data published Friday.
Within the total, active oil rigs rose by 3 to 454, while gas rigs dropped by 3 to 124. Miscellaneous rigs remained at 10.
The report also pointed to an uptick in production and regional rig moves, with weekly US crude oil production averaging 13.804 million barrels per day for the week ending July 31. Primary Vision’s frac spread count fell by 4 to 194 crews, while the number of rigs in the Permian Basin rose by 3 to 263 and the Eagle Ford stayed at 49.
Oil prices were higher on Friday, with Brent trading around $83.55 per barrel, up about 1.3% on the day, even as the article noted Brent was down versus the same time earlier.
Latest closeWTI crude $78.07 ▲3.8%|Brent $83.46