• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 days They pay YOU to TAKE Natural Gas
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days What fool thought this was a good idea...
  • 5 hours A question...
  • 5 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 11 days The United States produced more crude oil than any nation, at any time.
Biden To Hike Tariffs on Chinese EVs and Clean Energy Tech

Biden To Hike Tariffs on Chinese EVs and Clean Energy Tech

The Biden Administration is preparing…

Caspian Power Trio Aims to Electrify the European Union

Caspian Power Trio Aims to Electrify the European Union

Azerbaijan, Kazakhstan, and Uzbekistan plan…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

US Oil, Gas Drillers Add 1 More Rig As Production Plummets


The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday.

The total rig count rose by 1 to 621 this week, compared to 771 rigs this same time last year.

The number of oil rigs rose by 2 this week after falling 2 last week, settling at 499--down by 110 compared to this time last year. The number of gas rigs fell by 1 this week to 119, a loss of 41 active gas rigs from this time last year. Miscellaneous rigs stayed at 3.

Meanwhile, U.S. crude oil production plummeted 1 million bpd to average just 12.3 million bpd in the week ending January 19—falling to the lowest point since June of last year thanks to the cold snap that took production offline throughout the nation.

Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, rose for the first time in six weeks in the week ending January 19. Completion rpse by 1 to 235 for January 19. This follows a string of weekly decreases in completion activity that dipped by 44 over the previous five weeks.

The Permian saw 3 rigs added, while the Eagle Ford was down 1 rg. Rigs again stayed the same in the Williston basin.

Oil prices were trading down on Friday morning. At 11:46 p.m. ET, the WTI benchmark was trading down $0.73 (-0.94%) on the day at $76.63, despite depressed production in the United States. While down on the day, that price level is a $3.30 increase from last week at this time.  

The Brent benchmark was trading down $0.55 (-0.67%) at $81.88, an increase of $3.30 per barrel from a week ago.

By Julianne Geiger for Oilprice.com


More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • Mamdouh Salameh on January 26 2024 said:
    The claim by the US Energy Information Administration (EIA) that US oil production hit 13.2 million barrels a day (mbd) in 2023 is hype. This figure is inflated by more than 2.0 mbd. A more realistic figure of US production ranges from 10.0-11.0 mbd at best

    If production plummeted by 1.0 mbd during the week ending 19 January, it means that current production is 9.0-10.0 mbd and not 12.3 mbd.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News