Over the past month, oil prices trended downward. On February 24th prices closed at $76.32. Prices hit a high of $80.46 on March 6th and a low of $66.74 on March 17th. On March 24th, prices closed at $70.27.
The March 24th Baker Hughes rig count report shows an increase in the active rig count. Baker Hughes reports 758 active drilling rigs in the US. One month ago, the total active rig count was 753. One year ago, the total active rig count was 670.
The oil rig count is currently 593 rigs, compared to 600 one month ago, and 531 one year ago. The gas rig count is 162, compared to 151 one month ago and 137 last March.
In the major plays, the Permian Basin rig count is at 353 rigs, the same as the February count.
In east Texas, the Eagle Ford shale is at 70 active rigs, one less than the February count.
The Haynesville shale rig count is 67 rigs, down one from last month.
The Anadarko rig count is 61 rigs, down one from a month ago.
The active rig count in the Niobrara Shale is 39 rigs, up four from the February count.
The Bakken Shale rig count is 42 rigs, the same count as February.
The Appalachian has 51 active rigs, which is the same count as February.
*Data from March 2023, Baker Hughes Report.
|Bakken Region Total: 42
North Dakota: 41
|Rocky Mountain Total: 158
New Mexico: 108
|Central Plains Total: 61
|Gulf States Total: 58
Louisiana North: 41
Louisiana South (land & offshore): 16
|Texas Total: 371
District 1: 30
District 2: 29
District 3: 10
District 4: 17
District 5: 4
District 6: 32
District 7B: 2
District 7C: 32
District 8: 198
District 8A: 13
District 9: 0
District 10: 4
|Appalachian Total: 51
West Virginia: 16
For more detailed news and information on the oil industry, please visit our oilfield news and information page.
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