• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days Does Toyota Know Something That We Don’t?
  • 3 days America should go after China but it should be done in a wise way.
  • 9 days World could get rid of Putin and Russia but nobody is bold enough
  • 11 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 hours Even Shell Agrees with Climate Change!
  • 11 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 12 days Putin and Xi Bet on the Global South
  • 12 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
The Oil Market Is Tightening to 2016 Levels

The Oil Market Is Tightening to 2016 Levels

The IEA has revealed that…

Major Oil Companies Make Moves in Megamerger Frenzy

Major Oil Companies Make Moves in Megamerger Frenzy

Several high-profile mergers among oil…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Permian Rig Count Drops Amid Rising U.S. Crude Production

The total number of active drilling rigs in the United States fell by 10 this week, according to new data from Baker Hughes published Friday.

The total rig count fell to 632 this week. So far this year, Baker Hughes has estimated a loss of 133 active drilling rigs. 

The number of oil rigs fell by 8 this week to 512, down by 93 from a year ago. The number of gas rigs fell by 2 to 115, a loss of 43 active gas rigs from a year ago. Miscellaneous rigs remained the same. 

The rig count in the Permian Basin fell by 7 to 320, while rigs in the Eagle Ford dropped by 1, to 52 rigs. 

Primary Vision’s Frac Spread Count, an estimate of the number of crews completing unfinished wells (which is cheaper than drilling new wells), fell this week. The frac spread count fell to 256 in the week ending August 18, down from 262 in the week prior. The frac spread count is 2 less than where it started the year.

Crude oil production levels in the United States were at 12.8 million barrels per day in the week ending August 18, representing the third consecutive weekly increase in production, according to the latest weekly EIA estimates.

At 1:37 p.m. ET on Friday, the WTI benchmark was trading down $0.54 (-0.68%) on the day at $78.51. The Brent benchmark was trading down $0.25 (-0.30%) at $83.11 per barrel on the day—down about roughly $2.40 per barrel from a week ago.

By Julianne Geiger for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News