The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Thursday, bringing the total rig count in the US to 545, down 38 from this same time last year.
The number of active oil rigs stayed at 411 during the latest reporting period, according to the data. This is 61 below this same time last year. The number of gas rigs fell by 3 after gaining 3 in the week prior. Gas rigs now sit at 127, which is 22 more than this time last year. The miscellaneous rig count stayed the same at 7.
The latest EIA data showed that weekly U.S. crude oil production fell during week ending April 3. US crude oil production averaged 13.596 million bpd during the reporting period—266,000 bpd under the all-time high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose during the week ending April 2 by 7 after losing 13 crews over the previous two weeks.
The number of active drilling rigs in the Permian Basin stayed the same at 242, which is 47 rigs under year-ago levels. The count in the Eagle Ford fell by 2 to 43, which is 4 fewer than this same time last year.
Oil prices were Friday, with Brent crude is currently trading at $97.04 )+1.17% per barrel. Although up on the day it is down more than $10 per barrel from this time last week. WTI was also trading up on the day at $98.72, still topping Brent pricing.
By Julianne Geiger for Oilprice.com
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