The total number of active oil and gas drilling rigs in the United States fell again this week, according to new data released Friday by Baker Hughes.
The total number of rigs decreased by 7 to 581 this week, compared to 674 rigs at the same time last year.
The number of oil rigs decreased by 6 this week, following a decrease of 3 the previous week. Oil rigs now stand at 479, down 66 from the same period last year. The number of gas rigs fell by 1 this week to 97, a loss of 27 active gas rigs from last year. The number of miscellaneous rigs remained the same at 5.
Meanwhile, crude oil production in the United States remained at 13.2 million barrels per day for the third consecutive week for the week ending June 21. Current weekly production in the United States, according to the EIA, is now down just 100,000 barrels per day from the all-time high of 13.3 million barrels per day.
Primary Vision’s estimated Frac Spread Count, which represents the number of crews completing unfinished wells, increased from 250 to 246 for the week ending June 21.
Drilling activity in the Permian fell by 3 this week to 305. The count in the Eagle Ford also fell by 3 this week to 47 after losing just one rig the previous week.
Oil prices remained relatively stable on Friday. As of 12:24 p.m. ET, the WTI schedule was down $0.06 (-0.07%) at $81.68 — about $1 more per barrel than last Friday’s price.
Brent crude was up $0.09 (+0.10%) at $86.48, up about $1.40 per barrel from levels a week ago.
By Julianne Geiger for Oilprice.com
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