• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours Its going to be an oil bloodbath
  • 12 mins Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 1 hour What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 50 mins Marine based energy generation
  • 2 hours Cpt Lauren Dowsett
  • 1 hour The Most Annoying Person You Have Encountered During Lockdown
  • 4 hours Which producers will shut in first?
  • 1 min US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 12 hours CDC covid19 coverup?
  • 3 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 3 hours Washington doctor removed from his post, over covid
  • 12 hours How to Create a Pandemic
  • 12 hours Iran-Turkey gas pipeline goes kaboom. Bad people blamed.

Breaking News:

IEA: OPEC Can’t Save The Oil Market

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

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






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