U.S. Oil and Gas Rig Count Rises to 573

Baker Hughes data released on Friday showed the total number of active drilling rigs for oil and gas in the United States rose to 573, up 10 from the previous week. Oil rigs increased by 7 to 440. Gas rigs climbed by 3 to 125. The miscellaneous rig count remained unchanged at 8.

The total rig count stands 26 rigs above the level recorded at the same time last year. Oil rigs are 8 above year-ago levels while gas rigs are 16 higher.

The number of active drilling rigs in the Permian Basin rose by 2 to 258. The count in the Eagle Ford stayed the same at 44. Weekly U.S. crude oil production averaged 13.819 million barrels per day for the week ending June 19, up from 13.806 million barrels per day the prior week. Primary Vision’s Frac Spread Count remained steady at 192 crews for the same period.

Brent crude traded at $71.90 per barrel, down 4.46 percent for the week. WTI crude traded at $69.43 per barrel, down 3.82 percent on the day.