The number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Friday.
The total rig count rose to 771 this week—229 rigs higher than the rig count this time in 2021.
Oil rigs in the United States rose by 2 this week, to 612. Gas rigs stayed the same at 157. Miscellaneous rigs also stayed the same at 2.
The rig count in the Permian Basin held steady at 346 this week. Rigs in the Eagle Ford stayed the same at 71. DJ-Niobrara saw an increase of 3 rigs this week, to 20.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing unfinished wells—a more frugal use of finances than drilling new wells—rose by 4 to 295 for the week ending October 14, compared to 287 a month ago and 268 a year ago.
Crude oil production in the United States rose slightly in the week to October 14, to 12 million bpd, according to the latest weekly EIA estimates. U.S. production levels are up just 300,000 bpd so far this year and up 700,000 bpd versus a year ago.
At 9:13 a.m. ET, the WTI benchmark was trading up $0.25 per barrel (+0.30%) on the day at $84.76 per barrel—but down nearly $1.60 per barrel since this time last week.
The Brent benchmark was trading up at $92.72 per barrel, up $0.34 (+0.97%) on the day, and less than $1 per barrel compared to last Friday.
WTI was trading at $85.14 minutes after the data release.
By Julianne Geiger for Oilprice.com
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By Irina Slav for Oilprice.com
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