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Texas  |  November 2, 2020
Paul Bubny
By: Paul Bubny

Baker Hughes Rig Count Rises for Sixth Consecutive Week

The Baker Hughes U.S. oil rig count rose by 10 to 221 for the week ended Oct. 30, marking the sixth consecutive week of increases. The total active U.S. rig count was up nine to 296, according to Houston-based Baker Hughes, with the increase in active oil rigs offsetting a one-rig decline in the count of active natural gas rigs.

Texas gained 20 rigs during the course of October, with the state ending the month at 133 oil and gas rigs. That includes 81 in the Permian Basin.

Further, U.S. oil production increased to 11.1 million barrels per day from 9.9 million barrels the week prior, Oilprice.com reported.

Conversely, both West Texas Intermediate and Brent crude saw declines in per-barrel pricing over the past week. And the total count for active oil and gas rigs is down by 526 from a year ago.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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