The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after last week’s sharp decline.
The total rig count in the US rose by 5 to 549 this week, according to Baker Hughes, down 40 from this same time last year.
The number of active oil rigs rose by 6 in the reporting period, according to the data, after falling by 12 rigs in the week prior. Oil rigs are now at 413, which is 69 below this same time last year. The number of gas rigs fell by 1 to 129, which is 27 more than this time last year. The miscellaneous rig count stayed the same at 7.
The latest EIA data showed that weekly U.S. crude oil production rose slightly in the week ending November 28 to 13.815 million bpd on average, 47,000 bpd under the all-time high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell in the week ending November 26, gaining 4 to reach 173. This is down from 201 at the beginning of the year.
The number of active drilling rigs in the Permian Basin stayed the same last week at 251 this week, which is 53 rigs under year-ago levels. The count in the Eagle Ford fell by 1, landing at 38, which is 10 fewer than this same time last year.
By 12:49 p.m. ET, the WTI benchmark was trading up on the day, gaining $0.59 to $60.26. The Brent benchmark was trading up $0.66 per barrel, at $63.92—up more than $1 week over week.
By Julianne Geiger for Oilprice.com