US Rig Count Reaches Highest Level in Two-and-a-Half Years
U.S. drillers added four rigs this week, bringing the nation’s oil rig count to 873 – an increase of 137 oil rigs from one year ago – according to weekly data compiled by Baker Hughes, a GE Company.
This marks the highest rig count level since March 2015, Reuters reported.
Currently, the nation’s total rig count sits at 1,067, which is an increase of 154 from one year ago.
Texas led the pack this week, adding eight rigs, and the state accounts for 540 rigs overall. This time last year, Texas was at just 436 rigs. California added two rigs this week.
Alaska and New Mexico each lost two rigs this week, while Oklahoma and Pennsylvania both lost one rig apiece.
Looking at rig counts in the nation’s most popular regions this week, the data shows that both the Permian and the Eagle Ford added one and two rigs, respectively.
The Permian Basin, which currently has 490 active rigs, has experienced pipeline constraints – the cause for stalled drilling until June. Since then, new drilling has edged up.
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