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The number of total active drilling rigs in the United States stayed the same this week, after the 1 rig dip in the week prior, according to new data from Baker Hughes published on Friday.<\/p>\n
The total rig count stayed at 727 this week \u2014 271 rigs higher than the rig count this time in 2021.<\/p>\n
Oil rigs in the United States stayed the same this week at 574. Gas rigs also stayed the same, at 151. Miscellaneous rigs stayed the same at 2.\n<\/p>\n
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The rig count in the Permian Basin also saw no changes this week, staying at 342. The Eagle Ford also saw no changes, staying at 66. Oil and gas rigs in the Permian are 110 above where they were this time last year.<\/p>\n
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing unfinished wells, fell to 283 to 727 in the week ending May 27 \u2014 down from 288 in the week prior.<\/p>\n
US crude oil production was unmovable at 11.9 million bpd for the week ending May 27, according to the latest Energy Information Administration \u2014 an increase of 300,000 bpd rise since the Russian invasion of Ukraine.\n<\/p>\n
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At 11:06 am ET, oil prices were trending up on the day. WTI was trading at $ 118.70 \u2014 up $ 1.86 per barrel (+ 1.59%) on the day and up more than $ 5 per barrel on the week. The Brent benchmark traded at $ 119.30 per barrel, up $ 1.72 (+ 1.46%) on the day and up $ 2 on the week, with Brent barely hanging onto its edge over WTI.<\/p>\n
At 1:04 pm ET, WTI was trading at $ 118.90, while Brent was trading at $ 119.70 per barrel \u2014 both up on the day.<\/p>\n
By Julianne Geiger for Oilparmi<\/p>\n
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