• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days If hydrogen is the answer, you're asking the wrong question
  • 11 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Breaking News:

Oil Prices Gain 2% on Tightening Supply

Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

The Biden Administration has significantly…

Oil Steady as EIA Confirms Crude, Gasoline Draws

Oil Steady as EIA Confirms Crude, Gasoline Draws

Oil prices retained gains on…

China Holds The Key To 2024 Global Oil Demand Growth

China Holds The Key To 2024 Global Oil Demand Growth

Despite an increase in China’s…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

U.S. Oil Rig Count Rises As Crude Prices Climb Higher

Utica rig

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 461 as U.S. drillers boast more than 100 additional rigs this year.

In the week prior, the U.S. oil and gas rig count decreased by 1. But the trend is definitely one of gaining rigs, with 110 rigs added this year to date.

The total number of active oil and gas drilling rigs in the U.S. is now 182 more than this time last year.

The oil rig count rose by 6 this week to 365. The number of gas rigs decreased by 1 for the third week in a row, and now sits at 96. The number of miscellaneous rigs stayed the same.

The EIA’s estimate for oil production in the United States for the week ending June 4—the last available data—returned to an average of 11.0 million barrels per day compared to the 13.1 million bpd peak production reached in February 2020, before the pandemic crushed oil demand.

Canada’s overall rig count increased this week by 16. Oil and gas rigs in Canada now sit at 93 active rigs, up 72 on the year. 

The rig count in the Permian basin increased by 4 this week. At 236 rigs, the Permian’s total rig count is now 99 rigs above what it was this time last year, but hundreds below the two years ago level.

The Frac Spread Count provided by Primary Vision shows that fracking crews decreased last week to 224.  The frac spread count estimates the number of completion crews finishing off previously drilled wells. This frac count is up by nearly 100 so far this year.

At 11:37 a.m. EDT, WTI was trading up $0.53 per barrel on the day at $70.82—up nearly $1.50 per barrel on the week.

The Brent benchmark was trading up $0.16 per barrel on the day, at $72.68 per barrel.

ADVERTISEMENT

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News