The total number of active drilling rigs for oil and gas in the United States rose this week to 581, up 44 from the same time last year, according to Baker Hughes data. The number of active oil rigs held steady at 445, 21 above year-ago levels, while gas rigs also remained unchanged at 126, 18 more than last year. The increase came from the miscellaneous rig count, which added one to reach 10. In the Permian Basin, the rig count fell by five to 256, nine below year-ago levels, while the Eagle Ford added three rigs to reach 47, six more than last year. Primary Vision's Frac Spread Count, an estimate of crews completing wells, rose by five to 205 in the week ending July 2. Weekly US crude oil production averaged 13.860 million barrels per day in the week ending July 3, up from 13.810 million the prior week and 475,000 barrels per day higher than a year ago, according to the EIA. Oil prices were down on Friday, with Brent trading at $75.72 per barrel and WTI at $71.26.
Baker Hughes CoBaker Hughes provides rig count data; the rise in rig count may indicate increased demand for its services, but the article only reports the data without discussing Baker Hughes' business.