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[NoName @flyingeaglex]

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[NoName @flyingeaglex]

20250228 For this week, Baker Hughes International (BHI) is reporting a 1 rig net increase in the US oil and gas rig count, which is on top of a 16 rig gain over the previous 4 weeks. Since President Trump took the oath of office, the US OG rig count has increased by 17 or about 3%. The last time the USA sustained a drilling activity increase for 5 weeks in a row was in mid-2022. The count now sits at 593 rigs drilling in the US and its waters, and is the highest its been since early June of 2024.

The Haynesville and Midland areas led the shales higher, with the Anadarko West area also contributing to the increases. Each had a 1 rig gain. Note, the Midland Basin is now up a strong 8 rigs since late January. Activity reductions were 1 rig each in the offshore and non-shale areas.

In terms of production type, the oil side of the ledger had a 2 rig loss, after a big 7 rig gain last week, and there was a 2 rig gain in gas directed activity.

The above numbers were sourced from the weekly Baker Hughes Rig Count service. Thank you.
The data can be found here: https://t.co/Ei9KI8ogkn.