Over the past month, oil prices have trended up. Prices closed at $75.85 on January 31st. On February 2nd, prices hit a low of $72.28. From there, prices have risen to a high of $78.61 on February 22nd. Prices closed at $76.49 on February 23rd.
The February 23rd Baker Hughes rig count report shows a continuing decline in the active rig count. Baker Hughes reports 626 active drilling rigs in the US. One month ago, the total active rig count was 621. One year ago, the total active rig count was 753.
The oil rig count is currently 503 rigs, compared to 499 one month ago and 600 one year ago. The gas rig count is 120, compared to 119 one month ago and 151 last February.
In the major plays, the Permian Basin rig count is at 314 rigs, up 4 from the January count.
In east Texas, the Eagle Ford has 52 active rigs, 2 down from January.
The Haynesville rig count is 43 rigs, 1 more than last month.
The Anadarko rig count is 44 rigs, up 2 from January.
The active rig count in the Niobrara is 27 rigs, the same as last month.
The Williston Basin rig count is 34 rigs, the same as the January count.
The Appalachian has 41 active rigs, the same as last month.
*Data from February 2024, Baker Hughes Report.
Bakken Region Total: 34 Montana: 2 North Dakota: 32 |
Rocky Mountain Total: 141 Colorado: 16 New Mexico: 102 Utah: 12 Wyoming: 11 |
Central Plains Total: 45 Oklahoma: 44 Kansas: 1 Arkansas: 0 |
Gulf States Total: 45 Alabama: 0 Louisiana North: 31 Louisiana South (land & offshore): 14 Mississippi: 0 |
Texas Total: 297 Texas RRC District 1: 25 District 2: 21 District 3: 3 District 4: 8 District 5: 2 District 6: 19 District 7B: 1 District 7C: 36 District 8: 163 District 8A: 15 District 9: 1 District 10: 3 |
Appalachian Total: 43 Ohio: 12 Pennsylvania: 24 West Virginia: 7 |
For more detailed news and information on the oil industry, please visit our oilfield news and information page.
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