US oil rig count rises to 449
The number of active oil drilling rigs in the United States increased by two over the week to 449, while the number of gas rigs fell by two to 130. The total number of active oil and gas drilling rigs remained at 588, according to Baker Hughes data reported by OilPrice.
Total rig count unchanged
Compared with the same period last year, the total number of active drilling rigs in the United States is higher by 51. The number of oil rigs increased by 35 over the year, while gas rigs rose by 12. The number of rigs for other purposes remained unchanged at nine.
In the Permian Basin, the number of active drilling rigs increased by one to 268. This is 14 more than a year earlier. In Eagle Ford, the figure remained at 50 rigs, 11 above last year's level.
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Oil production and well completions
According to the latest data from the U.S. Energy Information Administration, during the week ending August 28, average crude oil production in the country amounted to 13.862 million barrels per day. This is 19,000 barrels per day more than the previous week and 423,000 barrels per day more than a year ago.
At the same time, Primary Vision's Frac Spread Count, which estimates the number of well completion crews, decreased by four during the week through August 28 to 180 crews. A week earlier, it had fallen by nine crews.
Before the data were released, oil prices were declining: Brent traded at $95.27 per barrel, down 0.26%, while WTI traded at $90.60, having lost 0.77%.
