US Oil & Gas Rigs Rise, Production Hits New High

New data shows a slight uptick in active oil and gas drilling rigs in the U.S., with a one-rig increase to 549. Oil rigs rose by three to 417, but this is still 61 fewer than last year. Gas rigs, however, decreased by three to 125, 24 more than last year. U.S. crude oil production hit a new high of 13.862 million barrels per day, up from the previous week. Despite the production increase, the Frac Spread Count dropped for the third consecutive week, now at 173, down from 201 at the start of the year. The Permian Basin saw a two-rig increase to 253, while the Eagle Ford basin fell by one to 41 rigs, reflecting ongoing adjustments in the energy sector.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.