The Number of Oil and Gas Drilling Rigs in the US Decreased in August
The number of active oil rigs in the US fell in August for the ninth consecutive month, while the combined number of active oil and gas rigs fell for the fourth month. This was announced on Friday at the oilfield service company Baker Hughes.
The total number of active oil and gas drilling rigs in the week of August 19-25 decreased by 10 units to 632 units, the lowest since February 2022.
Thus, the total number of operating oil and gas drilling rigs in the reporting week decreased by 133 units, or 17%, compared to the same period last year.
According to Baker Hughes, the number of active oil rigs in the United States in the reporting week decreased by 8 units, to a minimum since February 2022 of 512 units, and the number of active gas drilling rigs decreased by 2 units, to a minimum since January 2022 of 115 units.
At the end of this month, the number of oil and gas drilling rigs decreased by 32 units, demonstrating a decrease for the fourth month in a row.
In August, the number of oil drilling rigs decreased by 17 units. The indicator fell for the ninth consecutive month for the first time since November 2019, when companies reduced the number of drilling rigs for 12 consecutive months.
Meanwhile, the number of gas drilling rigs fell by 13 units in August after rising by 4 units in July.
