US Adds Oil Rigs for Fifth Out of Sixth Weeks
The U.S. added two oil rigs this week, bringing the nation’s total number of oil rigs to 888, according to weekly data compiled by Baker Hughes, a GE Company.
This marks the fifth week out of six weeks that the U.S. has added oil rigs. Last week, there was an increase of 14 oil rigs.
The Permian, which accounts for more than half of the nation’s oil rigs, added one rig this week, bringing the number to 493.
The Eagle Ford led the pack this week, adding three rigs. The Marcellus added two rigs while the Permian, Cana Woodford and Granite Wash added one rig apiece.
This week, the U.S. Department of Energy’s Energy Information Administration (EIA) forecasted that seven major shale basins would reach record production of 7.94 million barrels per day in December.
Production in the Permian is expected to increase by 63,000 barrels per day in December, according to the EIA.
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