Baker Hughes said on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total number of rigs to 461 as US rigs boast more than 100 additional rigs this year.
A week earlier, the number of oil and gas rigs in the US had dropped by 1. But there is definitely an upward trend in the number of rigs, with 110 rigs added to date this year.
The total number of operating oil and gas rigs in the United States is 182 more than last year.
The number of rigs has increased by 6 this week to 365. The number of gas rigs has decreased by 1 for the third consecutive week and now stands at 96. The number of different rigs has remained the same.
The EIA estimate for oil production in the United States for the week ending June 4 – the latest data available – has returned to an average of 11.0 million barrels per day, compared with a peak production level of 13.1 million barrels per day reached in February 2020. before the crushed oil pandemic. require.
The total number of rigs in Canada is up 16 this week. The number of oil and gas rigs in operation in Canada is now 93, 72 more than last year.
The number of rigs in the Permian Basin has increased by 4 this week. With 236 rigs, the total number of Permian rigs is now 99 more than it was at this time last year, but hundreds of rigs below the level two years ago.
The fracture spread calculation provided by Primary Vision shows that the fracture crews declined to 224 last week. The fracture spread calculation estimates the number of completion crews completing previously drilled wells. This year, the number of hydraulic fractures has increased by almost 100.
At 11:37 am ET, WTI crude was trading up $ 0.53 a barrel to $ 70.82 a barrel, up nearly $ 1.50 a barrel over the week.
The benchmark price of Brent crude traded up $ 0.16 a barrel during the day to $ 72.68 a barrel.
Julianne Geiger for Oilprice.com
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