The overall variety of active drilling rigs in the United States fell by 6 today, according to brand-new information from Baker Hughes released Friday.
The overall rig count was up to 669 today. Up until now this year, Baker Hughes has actually approximated a loss of more than 100 active drilling rigs. Today’s count is likewise 406 less rigs than the rig count at the start of 2019, prior to the pandemic.
The variety of oil well decreased by 7 today to 530, down by 91 up until now in 2023. The variety of gas rigs fell by 2, to 131, a loss of 25 active gas rigs from the start of the year. Various rigs acquired 3 rigs this recently.
The rig count in the Permian Basin fell by 4– 16 rigs listed below this very same time in 2015. The rig count in the Eagle Ford fell by 2, and is now 13 less than this time in 2015.
Main Vision’s Frac Spread Count, a quote of the variety of teams finishing incomplete wells (which is less expensive than drilling brand-new wells), inched up by 3 in the week ending July 14, to 263. The frac spread count is 5 greater than where it began the year.
Petroleum production levels in the United States remained stable at 12.3 million bpd in the week ending July 14, according to the current weekly EIA price quotes– a gain of simply 100,000 bpd from the start of the year. U.S. production levels are now up 400,000 bpd versus a year back.
At 12:47 p.m. ET on Friday, the WTI standard was trading up $0.91 (+1.20%) on the day at $76.56– up almost $1 per barrel from this time recently. The Brent standard was trading up $0.87 (+1.09%) at $80.51 per barrel on the day– up about $0.50 from a week back.
By Julianne Geiger for Oilprice.com
