According to new data from Baker Hughes published Friday, over the last week, two new drilling rigs went operational in the United States. That brought the total rig count up to 752. At this time in 2021, the total rig count was only 479.
In the United States there are now 597 rigs operational. Gas rigs remained unchanged in the report at 153. There were also 2 miscellaneous rigs, also unchanged.
One rig was added in the Permian Basin, bringing the total rig count there to 350. That is 113 more than this time last year. There was no change in the Eagle Ford, at 68.
The Frac Spread Count from Primary Vision, which approximates crews finishing unfinished wells, rather than drilling new ones from scratch at greater cost, dropped last week to 285, compared to 234 a year ago.
US Crude production in the week ending July 1 was 12.1 million barrels per day. That is one million shy of pre-pandemic levels.
At 7:05 am ET, WTI was trading at $104.80, while Brent was trading at $107.15 per barrel—both up on the day.