U.S. Oil and Gas Rig Count Rises to 562 This Week

Baker Hughes published data on Friday showing the total number of active drilling rigs for oil and gas in the United States rose during the week, reaching 562. The figure is one below the count recorded at the same time last year. The number of active oil rigs increased by four to 429.

That total remains 22 below the level reported one year earlier. The number of gas rigs held steady at 125, which is 16 above the year-ago figure. Miscellaneous rigs stayed at eight.

In the Permian Basin, the rig count rose by five to 255, which is 23 below the count from the same week last year. The Eagle Ford rig count remained at 44, one above the prior-year level. S. 702 million barrels per day for the week ending May 15. That figure is 160,000 barrels per day below the all-time high.

Primary Vision’s Frac Spread Count, which estimates crews completing wells, increased by five to 184 during the same week. The total is the highest since last June. Oil prices declined on Friday.