US energy firms leave rig count unchanged this week, Baker Hughes says
XLE•The US oil and gas rig count held steady at 603 in the week to October 16, up 55 rigs, or 10%, from a year earlier. Oil rigs fell by three to 459, while gas rigs rose by one to 133.
1. Rig count holds steady
The total US oil and gas rig count was unchanged at 603 in the week to October 16, Baker Hughes said. Oil rigs fell by three to 459, gas rigs rose by one to 133, and miscellaneous rigs climbed by two to 11, their highest level since January.
2. Regional changes
Utah’s rig count rose by five to 20, its highest since January 2015. California’s count fell by one to five, its lowest since April 2025.
3. Output projections
The total rig count was 55 rigs, or 10%, above its year-earlier level. The EIA projected US crude output would rise from a record 13.7 million barrels per day in 2025 to 13.9 million in 2026, and natural gas output from 107.6 billion cubic feet per day to 112.2 billion.
