Baker Hughes reports that US drillers have cut three oil rigs and added three gas rigs to their weekly count, while maintaining the same number of rigs.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies this week reduced three oil rigs while adding three natural-gas rigs. The overall rig count remained unchanged.
The 'oil and gas rig number, a leading indicator of future production, remained at 551 during the week ending February 13.
Baker Hughes reported that the total count was down 37 rigs or 6% from this time last year.
Baker Hughes reported that oil rigs dropped by three this week to 409, their lowest level since early January. Gas rigs, however, rose?by three, to 133, the highest level since July 2023.
Baker Hughes reported that the Haynesville shale in Louisiana and Texas saw a two-fold increase to 52 rigs, the highest number since June 2023.
The number of rigs in the Marcellus Shale, which is located in Pennsylvania, Ohio, and West Virginia, has increased by one, to 26. This is the highest it's been since December 2024.
The Permian, America's largest oil-producing shale region, is located in West Texas and Eastern New Mexico. In July 2021, the number of rigs had fallen to 238.
The number of rigs in Pennsylvania has risen by one, to 20. This is the highest it's been since August 2024.
Oil and gas rig counts declined by 7%, 5% and 20% respectively in 2025 and 2024 as lower U.S. oil prices encouraged energy firms to concentrate more on increasing shareholder returns and paying off debt than increasing production.
The U.S. Energy Information Administration predicted that crude production would remain at 13.6 millions barrels per day in 2026, matching the record-high of '2025.
Gas output is expected to rise from a record 107.6 bcfd (billion cubic feet per day) in 2025, to 110.0 bcfd by 2026. Spot prices are set at the Henry Hub.
(source: Reuters)
