U.S. oil and gas drilling activity increased in the latest weekly report, according to OilPrice.com, citing Baker Hughes data released Friday. The total U.S. rig count rose to 573, which is 26 higher than the same period last year. Oil rigs increased by seven to 440, while gas rigs rose by three to 125. Miscellaneous rigs were unchanged at eight.
The report also noted that U.S. crude output averaged 13.819 million barrels per day for the week ending June 19, up slightly from 13.806 million barrels per day the prior week and 384,000 barrels per day above year-earlier levels. Completion activity was steady, with Primary Vision’s frac spread count unchanged at 192 crews. In key producing regions, the Permian Basin added two rigs to reach 258, while the Eagle Ford held at 44.
For readers tracking factors affecting oil prices and oil and gas royalties, the data offers a snapshot of U.S. supply activity as markets also watch shipping conditions around the Strait of Hormuz. OilPrice.com reported Brent at $71.90 per barrel and WTI at $69.43 during Friday trading.
Source: OilPrice.com
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