The expansion across the sector includes both oil and natural gas infrastructure. Active oil rigs reached 455, a gain of one over the previous reporting cycle and 43 higher than last year. Meanwhile, gas rigs increased by four to a total of 128. This upward trend in drilling aligns with a slight recovery in domestic crude production, which averaged 13.805 million barrels per day for the week ending August 7.
US Drilling Activity Climbs as Oil Prices Sustain Momentum
With Brent crude climbing to $87.94 per barrel, domestic energy producers are accelerating operations. New data from Baker Hughes reveals the total active rig count in the United States reached 593 this week, marking a significant increase of 54 units compared to the same period last year.
Activity in the Permian Basin remains a primary engine for this growth, adding two rigs to reach a total of 265, which sits 10 units above year-ago levels. Concurrently, the Eagle Ford basin maintained a steady count of 49 rigs. Beyond active drilling, completion activity also showed signs of life as the Primary Vision Frac Spread Count rose by two, reaching 196 crews. As Brent prices surged more than $4 per barrel over the past week and WTI reached $81.81, the industry continues to capitalize on the sustained pricing environment.
Comments (0)
No comments yet. Be the first!