• 3 minutes CoV-19: China, WHO, myth vs fact
  • 6 minutes Trump reinvented tariffs and it worked
  • 9 minutes IEA Sees First Global Oil Demand Drop in a Decade on Coronavirus
  • 12 minutes Question: Why are oil futures so low through 2020?
  • 5 hours Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 hours Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 2 days "For the Public's Interest"
  • 2 days Natural Gas from Cow Poop Used to Save the Environment and Help Farmers
  • 8 hours Has Trump put the USA at the service of Israel?
  • 10 hours Solar Cells at 25 Cents Apiece (5 cents per watt)
  • 22 hours The New Class War Exposes the Oligarchs and Enablers
  • 22 hours Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Is cheaper plastics feedstock on the horizon?
  • 9 hours Cheap natural gas is making it very hard to go green
  • 2 days Weekly U.S. Imports of Crude Oil. No, the U.S. is NOT oil & gas self-sufficient.
Alt Text

The Metal Trump Wants More Than Gold

A little known metal is…

Alt Text

Can Digital Tech Solve Oil’s Talent Crisis?

Younger generations aren’t hearing the…

Alt Text

The New ‘Must-Have’ For Energy Hedge Funds

Green investing is getting more…

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. Oil Rig Count Falls For The First Time In 12 Weeks

The number of active oil and gas rigs in the United States dipped on Friday by 6 for a total of 659 active rigs, according to oilfield services provider Baker Hughes, which is 9 rigs above the rig count last year.

The number of oil rigs decreased 7 from 529 to 522, while the number of active gas rigs increased from 135 to 136 for a single-rig gain.

This week marks the first week in the last 12 that the number of oil rigs has decreased, and 10 straight weeks of gas rig increases.

Drillers in the United States have been slowly but steadily increasing the number of active drilling rigs in line with higher oil prices, particularly since the OPEC agreement on November 30 that saw OPEC agree to cut back production to 32.5 million bpd. This upward trend in the number of active rigs is expected to continue overall, barring any glitches in OPEC’s promise to make good on the production cut deal solidified in November.

The number of active oil rigs is still well below 2014 figures, when the number of oil rigs operating in the United States sat comfortably above 1,500.

(Click to enlarge)

A snapshot of the number of active oil and gas rigs by basin a year ago versus today shows a shift in activity, most notably away from Eagle Ford to the coveted Permian, which holds an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids. These figures signify the single largest continuous pool of oil that the U.S. Geological Survey has every surveyed.

(Click to enlarge)

(Click to enlarge)

WTI was trading down 0.85 percent at $52.56 half an hour before the data release, with Brent at $55.66, down 0.62 percent. Immediately after the rig count release, WTI was sitting at US$52.60, and Brent at US$55.68.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment
  • dipak sinha on January 14 2017 said:
    The reporter forgot to mention that Canada added 117 rigs this week . please report all the news not just your spin

Leave a comment




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