June 9, 2025
U.S. drilling activity continued to decline last week, marking the sixth consecutive weekly drop in the national rig count—something not seen since late 2023. According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Oil rigs drove the decline with a loss of 9, while gas rigs rebounded with a gain of 5. Several major basins, including the Permian and Eagle Ford, recorded new lows. In Oklahoma, the rig count slipped by 2, despite still sitting above year-ago levels.

Here is a summary of the U.S. rig count changes based on your update:
🛠️ National Rig Count Summary
- Total rigs: 559 (▼ 4 from last week) — lowest since November 2021
- Oil rigs: 442 (▼ 9)
- Gas rigs: 114 (▲ 5)
- Miscellaneous rigs: 3 (unchanged)
Year-over-year change:
- ▼ 35 rigs (from 594 a year ago)
- ▼ 50 oil rigs
- ▲ 16 gas rigs
- ▼ 1 miscellaneous rig
🗺️ Regional Rig Count Highlights
Region/State | This Week | Change | Last Year | Notes |
---|---|---|---|---|
Texas | 264 | ▼ 2 | 287 | Lowest since Nov 2021 |
Oklahoma | 50 | ▼ 2 | 38 | Still up YoY |
New Mexico | 91 | — | 107 | Holding steady |
North Dakota | 30 | — | N/A | Unchanged |
Louisiana | 31 | ▲ 1 | N/A | Small gain |
Colorado | 8 | — | N/A | Steady |
Kansas | 13 | ▼ 3 | N/A | Via Red Top Report |
California | 6 | — | N/A | Flat |
Alaska | 10 | — | N/A | Flat |
Ohio | 11 | — | N/A | Flat |
Pennsylvania | 18 | — | N/A | Flat |
Utah | 10 | ▼ 1 | N/A | Lowest since Feb 2022 |
West Virginia | 7 | — | N/A | Flat |
Wyoming | 21 | — | N/A | Flat |
📉 Industry & Market Commentary
2025: ▲ 88% spot price rise projected → expected boost in drilling
6th straight weekly decline in rig count — first such streak since Sept 2023.
Baker Hughes reclassified 8–10 rigs in Marcellus/Utica (gas vs. oil), with historical totals unchanged.
Capex trends:
E&Ps to cut spending 3% in 2025 vs. 2024
2024: Flat spending
2023: +27%, 2022: +40%, 2021: +4%
Crude Output Forecast (EIA):
2024: 13.2 million bpd (record)
2025: 13.4 million bpd
Gas Outlook:
2024: ▼ 14% price caused output cuts
Oil & Gas Marketing List