US Oil & Gas Rigs Increase, But Production Keeps Rising

New data from Baker Hughes shows a slight increase in active oil and gas drilling rigs in the U.S., now at 548, up from the previous period but still 37 fewer than last year. Oil rigs remain steady at 414, down 65 from last year, while gas rigs saw a small bump, up 3 to 128, 26 more than last year. Despite the rise in rigs, weekly U.S. crude oil production hit a new high of 13.651 million barrels per day. However, the Primary Visions Frac Spread Count, which tracks completing wells, fell for the second week, now at 175, 26 fewer than at the start of the year. The Permian Basin and Eagle Ford regions saw no change and a decrease of one rig, respectively, but both are below last years levels.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.