The overall variety of active drilling rigs in the United States fell by 7 today, after falling 11 recently to a low not seen because February 2022, according to brand-new information from Baker Hughes released Friday.
The overall rig count was up to 623 today. Up until now this year, Baker Hughes has actually approximated a loss of 156 active drilling rigs. Today’s count is 452 less rigs than the rig count at the start of 2019 prior to the pandemic.
The variety of oil well fell by 5 today to 502, down by 119 up until now in 2023. The variety of gas rigs fell by 2 today to 116, a loss of 40 active gas rigs from the start of the year. Various rigs remained the exact same.
The rig count in the Permian Basin fell by 5 today– the 2nd week in a row for that size fo a drop, and 32 rigs listed below this exact same time in 2015. The rig count in the Eagle Ford remained the exact same and is 23 less than this time in 2015.
Main Vision’s Frac Spread Count, a quote of the variety of teams finishing incomplete, fell in the week ending September 22, to 259, below 264 in the week prior. The frac spread count is 1 more than where it began the year.
Petroleum production levels in the United States remained at 12.9 million bpd, according to the most recent weekly EIA quotes– still sitting at the greatest production level because 2019. U.S. production levels are now up 900,000 bpd versus a year earlier. The EIA likewise released month-to-month information on Friday that revealed July’s typical production increased a little to 12.991 million bpd, compared to June’s 12.900 million bpd.
At 10:28 a.m. ET on Friday, the WTI criteria was trading down $0.82 (-0.89%) on the day at $90.89– still up approximately $1 per barrel from this time recently. The Brent criteria was trading down $0.08 (-0.08%) at $95.30 per barrel on the day– up approximately $2 per barrel from a week earlier.
By Julianne Geiger for Oilprice.com
