• 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
  • 8 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 7 hours How Far Have We Really Gotten With Alternative Energy
  • 8 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 3 days Bankruptcy in the Industry
  • 3 days The United States produced more crude oil than any nation, at any time.
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

U.S. Drillers Continue To Add Rigs As Crude Prices Rally

Shale rig

The number of total active drilling rigs in the United States rose by 9 this week, according to new data from Baker Hughes published on Friday.

The total rig count rose to 767 this week—279 rigs higher than the rig count this time in 2021.

Oil rigs in the United States rose by 6 this week to 605. Gas rigs rose by 2, to 157. Miscellaneous rigs rose by 1 to 5.

The rig count in the Permian Basin rose by 2 to 351 this week. Rigs in the Eagle Ford increased by 2 to 72. Oil and gas rigs in the Permian are 108 above where they were this time last year.

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 to 290 for week ending July 22, compared to 243 a year ago.

Crude oil production in the United States rose 200,000 bpd to 12.1 million bpd in the week ending July 22, according to the latest EIA data.

9:23 a.m. ET, oil prices were trending up on the day and week as the market eyes a tight supply/demand future even as we head into a technical recession, which some fear could dent demand. WTI was trading at $99.86—up $3.44 per barrel (+3.57%) on the day, and $3 per barrel on the week. The Brent benchmark traded at $110.10 per barrel, up $3.00 (+2.80%) on the day, and up more than $5 on the week.

At 1:05 pm ET, WTI was trading at $99.57 while Brent was trading at $110.00 per barrel—both up on the day.

By Julianne Geiger for Oilprice.com


More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • Mamdouh Salameh on July 30 2022 said:
    What good it is doing since US shale oil production has hardly been rising since the COVID pandemic in 2020?

    The truth of the matter is that US shale production is a spent force. The sweet and lucrative spots in the shale plays have already been exhausted forcing drillers to move to poorer and costlier spots thus leading to rising costs of production and declining production.

    Yet, the US Energy Information Administration (EIA) claimed two days ago that US oil production averaged 12.1 million barrels a day (mbd) during the week to July 22.
    This claim can only be taken not with a pinch of salt but with tons of salt.

    My estimate of US production is somewhere between 9.5 mbd and 10.0 mbd.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

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