• 3 minutes China's aggression is changing the nature of sovereignty.
  • 8 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 11 minutes Europe gas market -how it started how its going
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 41 mins The Fascist Dictatorship called Russia under Dictator for Life Putin
  • 49 mins Russia, Ukraine and "2022: The Year Ahead"
  • 2 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 2 days Energy Storage Could Emerge As The Hottest Market Of 2022
  • 2 days "Tackling One Of The Fracking Industry’s Biggest Problems" by Robert Rapier
  • 2 days January 23rd - Washington D.C. and Brussels - Demonstrations Against Tyranny
  • 1 day NordStream2
  • 1 day Following the Big Money
Stock Market Crash Puts The Brakes On Oil Rally

Stock Market Crash Puts The Brakes On Oil Rally

Monday’s stock market crash appeared…

The Key To Achieving Biden’s Net Zero Goals

The Key To Achieving Biden’s Net Zero Goals

The Biden administration’s New Zero…

U.S. Rig Count Climbs As Shale Prepares For Takeoff

U.S. Rig Count Climbs As Shale Prepares For Takeoff

The number of active drilling…

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 Soars As WTI Recovers

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 5 this week, bringing the total rig count to 453.

In the week prior, the U.S. oil and gas rig count increased by 8.

The total number of active oil and gas drilling rigs in the U.S. is now 114 more than this time last year.

The oil rig count increased by 8 this week, bringing the total oil rig count to 352 this week. The number of gas rigs decreased by 3 to 100. The number of miscellaneous rigs stayed the same.

The EIA’s estimate for oil production in the United States for the week ending May 7—the last available data—increased this week at an average 11 million barrels per day. The EIA estimates that U.S. oil production will reach a modest 11.04 million bpd this year, after falling from the 13.1 million bpd peak production reached in February 2020, before the pandemic crushed oil demand.

Canada’s overall rig count also increased this week by 4. Oil and gas rigs in Canada now sit at 59 active rigs, up 36 on the year. 

The rig count in the Permian basin increased by 2 this week. At 231 rigs, the Permian’s total rig count is now 56 rigs above what it was this time last year, but hundreds below the two years ago level.

The Frac Spread Count provided by Primary Vision shows that fracking crews increased last week to 221.  The frac spread count estimates the number of completion crews finishing off previously drilled wells. This number is still 174 above the number of frac crews as of May 2020.

At 12:04 p.m. EDT, WTI was trading up $1.26 per barrel on the day at $65.08—but still up roughly $.60 per barrel on the week even as certain parts of Asia continue to struggle with a surge in Covid-19 cases.

The Brent benchmark was trading up $1.37 per barrel on the day, at $68.37 per barrel.

For a full breakdown of the U.S. and Canadian oil and gas rig count and frac spread activity, please have a look at our rig count page.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • George Doolittle on May 16 2021 said:
    "pump and dump" big time no doubt

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