The total number of active drilling rigs for oil and gas in the United States remained unchanged again this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 57 from this same time last year.
The number of active oil rigs rose by 2, to 462 during the latest reporting period, according to the data. This is 48 above this same time last year. The number of gas rigs fell by 2 to 130, which is 5 more than this time last year. Miscellaneous rigs stayed the same at 11.
The latest EIA data showed that weekly U.S. crude oil production rose during the week ending October 23. US crude oil production averaged 13.992 million bpd during the reporting period, up from 13.269 million bpd last week and up 348,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell for the second week in a row during the week ending October 23, losing 5 crews and sinking to 194. This is up 16 year-over-year.
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The number of active drilling rigs in the Permian Basin stayed the same during the reporting period, at 272. This is 21 rigs above year-ago levels. The count in the Eagle Ford dipped by 1 to 50, which is 7 more than this same time last year.
Oil prices were up on Friday prior to the data release, with Brent now trading at $117.58 (+2.35%) per barrel, and up $1 per barrel from this time last week. WTI was also trading up on the day at $104.13 (+2.09%), and up nearly $1.50 per barrel from this time last week.
By Julianne Geiger for Oilprice.com
Source: oilprice.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
