2023-08-04 14:05:20 ET
- Total active drilling rigs in the U.S. fell by 5 to 659, the lowest count since March 2022 and its 13th decline in the past 14 weeks, Baker Hughes reported Friday in its latest weekly survey.
- The total rig count is down 105, or 14%, from the same time last year.
- Drilling rigs targeting crude oil in the U.S. dropped 4 to 525, gas rigs stayed flat at 128, and 6 rigs were classified as miscellaneous.
- Rigs targeting crude oil in the Permian Basin fell by 4 to 320, and oil rigs in the Eagle Ford shed 2 to 53.
- In July, oil rigs fell by 16 rigs for an eighth straight monthly decline, while gas rigs gained 4.
- ETFs: ( NYSEARCA: USO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( NRGU ), ( NYSEARCA: UNG ), ( UGAZF ), ( BOIL ), ( KOLD ), ( UNL ), ( FCG )
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U.S. drilling rig count falls again, Baker Hughes says