US Oil Rig Count Rises to 450 Amid Increased Production
The number of active oil rigs in the US has increased to 450, according to data from Baker Hughes. This marks an increase of one rig over the previous week and represents a total of 591 oil and gas rigs in operation, which is 52 more than at this time last year.
Gas production also saw an uptick, with two additional rigs bringing the total to 132, a 14-rig increase compared to last year. Other types of rigs remained unchanged at nine.
The Permian Basin and Eagle Ford shale basin both saw slight increases in active rigs, with 268 and 51 rigs respectively, representing 14 and nine more rigs than this time last year.
US oil production averaged 13.947 million barrels per day for the week ending September 4, up from 13.862 million barrels per day the previous week and 452,000 barrels per day compared to last year's level.