The number of active oil and gas drilling rigs in the United States has reached 604 rigs this week, showing an increase of 56 rigs compared to the same period last year. This information is based on data released by Baker Hughes.
Increase in Oil and Gas Rigs
In the recent report, the number of active oil drilling rigs reached 463 rigs, which is an increase of one rig from last week and 49 rigs more than last year. Additionally, the number of gas drilling rigs also increased by one rig to 131 rigs, which is only 3 rigs more than the same period last year. Meanwhile, the number of Miscellaneous rigs decreased by one rig to 10 rigs.
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Record Crude Oil Production and Market Analysis
According to the latest data from the U.S. Energy Information Administration (EIA), the country's crude oil production reached a new record of 14.003 million barrels per day for the week ending October 30, an increase from last week’s 13.992 million barrels per day. This figure also represents an increase of 352,000 barrels per day compared to last year.
Despite the increase in production, the number of active rigs in the Permian Basin also rose to 273 rigs during this period, which is 22 rigs more than last year. However, the number of active rigs in the Eagle Ford remained stable at 50 rigs, which is 8 rigs more than last year. At the same time, the number of active rigs in the Frac Spread Count decreased to 191, indicating a reduction of 3 rigs over the past three weeks, although this figure is 16 rigs more than last year.
In the oil market, the price of Brent oil reached $97.32 per barrel on Friday, a decrease of $20 from last week. The price of West Texas Intermediate (WTI) also fell to $90.00, down $14 from the previous week.
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