Baker Hughes' weekly count showed the total US oil and gas rig tally unchanged at 588, with oil rigs up three to 454 and gas rigs down three to 124. The Permian Basin added rigs even as US crude output edged higher and Brent and WTI both traded up on Friday.
The number of active oil and gas rigs in the United States stayed unchanged at 588 last week, Baker Hughes reported Friday. Oil rigs rose by three to reach 454. Gas rigs fell by three to 124 over the same period.
That total sits 49 rigs above the same week last year. Oil rigs are 43 higher than a year ago. Gas rigs sit just one above year-ago levels.
Drilling activity in the Permian Basin rose by three rigs to 263, seven above year-ago levels. The Eagle Ford count held steady at 49 rigs, 11 more than the same time last year.
Crude oil production rebounded slightly during the week ending July 31, averaging 13.804 million barrels a day, up from 13.796 million bpd a week earlier and 520,000 bpd higher than a year ago. Primary Vision's Frac Spread Count, a measure of crews completing wells, fell by four to 194 for the week, after adding two crews the prior week.
Brent crude traded at $83.55 a barrel, up 1.29% on the day, though still $6 below where it stood a week earlier. WTI rose 1.19% on the day to $78.21 a barrel.
Sources: Investinglive RSS Breaking News Feed (snippet-based), Oilprice.com
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