The overall variety of active drilling rigs in the United States fell by 11 today, after seeing a quick 9-rig increase recently, according to brand-new information from Baker Hughes released Friday.
It is the least variety of active drilling rigs considering that February 4, 2022.
The overall rig count was up to 630 today. Up until now this year, Baker Hughes has actually approximated a loss of 149 active drilling rigs. Today’s count is 445 less rigs than the rig count at the start of 2019 prior to the pandemic.
The variety of oil well fell by 8 today to 507, down by 114 up until now in 2023. The variety of gas rigs fell by 3 today to 118, a loss of 38 active gas rigs from the start of the year. Various rigs remained the very same.
The rig count in the Permian Basin fell by 5 today– 27 rigs listed below this very same time in 2015. The rig count in the Eagle Ford remained the very same and is 23 less than this time in 2015.
Main Vision’s Frac Spread Count, a price quote of the variety of teams finishing incomplete wells (which is less expensive than drilling brand-new wells), increased in week ending September 15, to 264, up from 252 in the week prior. The frac spread count is 6 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 considering that 2019. U.S. production levels are now up 800,000 bpd versus a year earlier.
At 12:21 p.m. ET on Friday, the WTI criteria was trading up $0.12 (+0.13%) on the day at $89.75– down approximately $1 per barrel from this time recently. The Brent criteria was trading down $0.10 (-0.11%) at $93.20 per barrel on the day– down approximately $0.60 per barrel from a week earlier.
By Julianne Geiger for Oilprice.com
