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Oil Rig Count Posts First Double-Digit Gain Since January

Baker Hughes reported on Friday that the number of oil rigs in the United States rose for the first time since January by 11, to 183. Oilprice.com reported that this represented the first double-digit increase since the COVID-19 pandemic locked down significant parts of America.

The total number of active oil and gas rigs increased by 10 for the week, with oil rigs climbing by 11 and gas rigs falling by one. Total oil and gas rigs in the United States are now down by 662 from a year ago.

The largest gain was seen in the Permian Basin, which added 10 rigs. Texas has the nation’s largest rig count at 108.

Oilprice.com reported that oil production in the U.S. is 2.4 million barrels per day less than its all-time high, reached earlier this year.

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).

  • ◦Economy