• 4 minutes Some Good News on Climate Change Maybe
  • 7 minutes Cuba Charges U.S. Moving Special Forces, Preparing Venezuelan Intervention
  • 12 minutes Washington Eyes Crackdown On OPEC
  • 15 minutes Solar and Wind Will Not "Save" the Climate
  • 2 hours Prospective Cause of Little Ice Age
  • 4 hours L.A. Mayor Ditches Gas Plant Plans
  • 22 mins Why Trump will win the wall fight
  • 4 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 5 hours students walk out of school in protest of climate change
  • 20 hours is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 1 day Most Wanted Man In Latin America For AP Agency: Maduro Reveals Secret Meetings With US Envoy
  • 6 hours Maduro Asks OPEC For Help Against U.S. Sanctions
  • 21 hours Ford In Big Trouble: Three Recalls In North America
  • 2 days Amazon’s Exit Could Scare Off Tech Companies From New York
  • 1 day And for the final post in this series of 3: we’ll have a look at the Decline Rates in the Permian
  • 21 hours Why Is Japan Not a Leader in Renewables?
Alt Text

Is A Natural Gas Cartel Forming?

Over two months ago, Qatar…

Alt Text

Which Oil Giant Generates The Most Cash?

Shell has posted, for a…

Alt Text

Green New Deal Critics See Red

The reactions to the Green…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for US-based Divergente LLC consulting firm, and a member of the Creative Professionals Networking Group.

More Info

Trending Discussions

Rig Count Sees Largest 4 Week Gain Since April 2014

The number of active oil and gas rigs in the United States increased on Friday by 17, nearly erasing earlier gains to both WTI and Brent crude oil benchmarks. Both benchmarks were trading up early on Friday on the back of geopolitical tensions between Iran and the United States over the threat of fresh sanctions.

The total number of active oil and gas rigs in the United States is now 729, according to oilfield services provider Baker Hughes, which is 158 rigs above the rig count a year ago.

This week marks the largest four-week gain to the number of oil rigs (+54) since April 2014 (+56).

All of this week’s gains were oil rig gains, which were up from 566 last week to 583 this week. The number of active oil rigs in the United States is now the highest since October 2015.

Oil rigs have increased by 106 since the OPEC agreement was announced on November 30.

(Click to enlarge)

The number of gas rigs stayed the same this week at 145 ending 12 straight weeks of increases.

Cana Woodford saw the largest increase by basin for a total of 7 rigs gained, with the Permian gaining 4 and Eagle Ford 2. The Granite Walsh Basin and Haynesville both lost rigs.

After this week’s 4-rig gain, the Permian now has 295 oil and gas rigs—115 rigs more than the same week last year. These figures continue the trend of the redistribution of rigs by basin—while three weeks ago the Permian Basin accounted for 41% of all active oil and gas rigs in the United States, it now accounts for 51%. And while the Eagle Ford Basin accounted for 14% three weeks ago, it now accounts for only 10%.

(Click to enlarge)

At 12:04 pm WTI was trading up .22% at $53.66, with the Brent Crude benchmark trading up .28% at $56.72.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • rjs on February 03 2017 said:
    the largest 4 week gain in 3 years is interesting, but the 3 week gain of 61 oil rigs is unmatched in the recent Baker Hughes record...
  • David on February 10 2017 said:
    Let see, 729 rigs out of 1609 rigs from the highs a few years ago. Still around 880 rig down. Without throwing in each new well's natural decline curve of production, 17 rigs make a pretty small change.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News