The total number of total active drilling rigs in the United States rose by 5 this week, according to new data from Baker Hughes published Friday, after falling 3 last week.
The total rig count rose to 753 this week—58 rigs higher than the rig count this time in 2022—still 322 rigs lower than the rig count at the beginning of 2019, prior to the pandemic.
Oil rigs in the United States increased by 3 this week after two weeks of declines, landing at 591. Gas rigs rose by 2 to 159. Miscellaneous rigs stayed the same.
The rig count in the Permian Basin rose by 2, while the rig count in the Eagle Ford stayed the same.
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, fell by 4 for the week ending April 14, to 283. This is 7 fewer rigs than a month ago, and 14 more than a year ago.
Crude oil production in the United States stayed the same for the week ending April 14 at 12.3 million bpd, according to the latest weekly EIA estimates. U.S. production levels are up 400,000 bpd versus a year ago.
At 12:18 p.m. ET, the WTI benchmark was trading up $0.69 (+0.89%) on the day at $78.06, but down roughly $4 per barrel from this time last week.
The Brent benchmark was trading up $0.70 (+0.86%) at $81.80 per barrel on the day, but down more than $4 per barrel from last Friday.
WTI was trading at $77.76 minutes after the data release, up 0.50% on the day.
By Julianne Geiger for Oilprice.com
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