By Julianne Geiger – Feb 14, 2025, 12:10 PM CST
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after a 4-rig increase in the week prior.
The total rig count rose by 2 rigs, to 588, according to Baker Hughes, down 33 from this same time last year.
The number of oil rigs rose by 1—down by 16 compared to this time last year. The number of gas rigs also rose by 1, reaching 101, a loss of 20 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 6.
The latest EIA data showed that weekly U.S. crude oil production for the week ending February 7 rose to 13.494 million bpd. The figure is almost 200,000 bpd shy of the all-time high reached during the week of December 6, 2024.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose to 198 during the week of February 7, compared to 190 in the week prior, and down from 201 at the beginning of the year.
There was a slight uptick in drilling activity in the Permian Basin, rising from 303 to 304 active rigs—a figure that is 8 fewer than this same time last year. The count in the Eagle Ford saw no change to the number of active drilling rigs, at 48. Rigs in the Eagle Ford are now 4 below where they were this time last year.
Oil prices were trading up on Friday before the data release. At 12:45 a.m., ET, the WTI benchmark was trading down $0.48 per barrel (-0.67%) on the day at $70.81, down 18 cents per barrel compared to last Friday’s price. The Brent benchmark was trading down $0.20 (-0.27%) on the day at $74.82—but up roughly 16 cents per barrel compared to last Friday’s price.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com
