Aug 25, 2025
Baker Hughes released its latest rig count on Friday, showing a slight pullback in U.S. drilling activity. The total U.S. rig count slipped by one to 538, as oil rigs declined while gas rigs held steady.
Here’s a structured summary and analysis of the latest U.S. rig activity based on the Baker Hughes data and broader market context:
U.S. Rig Count (as of latest report)
- Total Rigs: 538 (↓ 1 from last week, ↓ 47 YoY from 585)
- Oil Rigs: 411 (↓ 1 WoW, ↓ 72 YoY)
- Gas Rigs: 122 (unchanged WoW, ↑ 25 YoY)
- Miscellaneous Rigs: 5 (unchanged WoW & YoY)
- Offshore Rigs: 13 (unchanged WoW, ↓ 6 YoY)
Regional Highlights (U.S.)
- Oklahoma: 43 rigs (unchanged WoW, ↑ 5 YoY from 38) → steady activity
- Texas: 240 rigs (↓ 2 WoW)
- New Mexico: 95 rigs (unchanged)
- North Dakota: 28 rigs (↓ 1 WoW)
- Louisiana: 38 rigs (↑ 2 WoW)
- Kansas: 15 rigs (↓ 5 WoW)
- Colorado: 12 rigs (unchanged)
- Alaska: 9 rigs (unchanged)
- California: 7 rigs (unchanged)
- Ohio: 11 rigs (unchanged)
- Pennsylvania: 18 rigs (unchanged)
- Utah: 10 rigs (unchanged)
- West Virginia: 7 rigs (unchanged)
- Wyoming: 13 rigs (unchanged)
🔑 Takeaways
- U.S. drilling is broadly stable but still trending lower year-over-year, mainly from oil rigs (-72 YoY).
- Natural gas rigs remain strong, with a +25 YoY gain, showing resilience despite weak pricing in 2024.
- Canada continues its seasonal decline, with both oil and gas rigs falling.
- Oklahoma stands out as a growth area (+5 YoY), maintaining activity even as other basins flatten or decline.
- Texas and North Dakota continue to edge lower, while Louisiana added rigs, likely tied to offshore/Gulf Coast activity.
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