The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday.
The total rig count rose to 756 this week-272 rigs higher than the rig count this time in 2021.
Oil rigs in the United States rose by 2 this week to 599. Gas rigs stayed the same for the second week in a row at 153. Miscellaneous rigs added 2 rigs, and now sit at 4.
The rig count in the Permian Basin held stady at 350 this week. Rigs in the Eagle Ford increased by 1 to 69. Oil and gas rigs in the Permian are 112 above where they were this time last year. Granite Wash added 2 rigs, reaching 5.
Primary Vision's Frac Spread Count, an estimate of the number of crews completing unfinished wells-a more frugal use of finances than drilling new wells-held steady at 285 for week ending July 8, compared to 238 a year ago.
Crude oil production in the United States slipped to 12 million bpd in the week ending July 8, down 100,000 bpd from the week prior.
At 12:46 p.m. ET, oil prices were trending up on the day, but still down significantly on the week as recession fears outweighed the Russia factor. WTI was trading at $97.82-up $2.04 per barrel (+2.13%) on the day, but down nearly $6 on the week. The Brent benchmark traded at $101.20 per barrel, up $2.07 (+2.09%) on the day, and down roughly $5 on the week.
At 1:08 pm ET, WTI was trading at $98,17, while Brent was trading at $101.50 per barrel-both up on the day.
By Julianne Geiger for Oilprice.com
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More