January 6, 2025
U.S. drilling rig activity remained steady over the past week, with the total count holding at 589 rigs, according to the latest Rig Report from Baker Hughes Co.
The national rig count reflected a slight shift between oil and gas rigs. The U.S. lost one oil rig, bringing the total to 482, while gas rigs increased by one to 103. The miscellaneous rig count remained stable at 14.
Year-over-Year Comparison
Compared to the same time last year, the U.S. rig count has dropped by 32 rigs. This decrease includes 19 fewer oil rigs and 15 fewer gas rigs, while miscellaneous rigs increased by two. Offshore drilling activity currently stands at 14 rigs, which is six fewer than a year ago.
Oklahoma’s current rig count of 43 is slightly lower than the 44 rigs reported at this time last year.
Regional Rig Activity
Texas saw a slight increase, adding one rig for a current total of 285. However, this remains below the 308 rigs reported in early January 2024. In contrast, New Mexico’s rig count remained unchanged at 103, which is higher than the 97 rigs recorded a year ago.
North Dakota held steady at 36 rigs, while Louisiana experienced a drop of one rig, leaving the state with 30 active rigs. Colorado’s rig count remained stable at 10.
In Kansas, the Red Top Rig Report from the Independent Oil and Gas Service showed a one-rig increase, bringing the state’s total to 25 rigs.
Additional State-by-State Updates
- Oklahoma’s rig count was unchanged at 43 rigs from the previous week.
- Ohio: No change, remaining at nine rigs.
- Pennsylvania: Unchanged at 15 rigs.
- Utah: Continued with 12 rigs.
- West Virginia: Stable at 10 rigs.
- Wyoming: Unchanged at 18 rigs.
The recent stability in U.S. rig counts, particularly in key oil-producing states, indicates a cautious approach to drilling activity amid market uncertainties.
