Baker Hughes Rig Count Rises to 551 in Four-Week Streak
Baker Hughes’ rig count rose for a fourth straight week to 551, with oil rigs up 5 to 415 and gas rigs down 1 to 128. Frac spread crews climbed 5 to 179, while US crude output averaged 13.71 million bpd, 152k bpd below its record.
1. Weekly Rig Count Increase
Baker Hughes reported its active rig count climbed to 551 this week, marking a fourth consecutive weekly gain. Oil rigs increased by 5 to 415 units, while gas rigs declined by 1 to 128 units, leaving the total count down 25 compared with last year.
2. Frac Spread and Production Data
The company’s Frac Spread Count rose by 5 crews to 179, the highest since November, indicating stronger completion activity. US crude oil production averaged 13.71 million barrels per day, just 152,000 bpd below the all-time high, supporting service demand.
3. Regional Rig Movements
In the Permian Basin, active rigs rose by 4 to 246, still 36 below year-ago levels. The Eagle Ford saw a 1-rig decline to 42, narrowing the gap to four fewer rigs than this time last year.