crude prices fell below $60 per barrel, underscoring continued pressure on drilling economics. According to the latest Baker Hughes Rig Count, both oil prices and rig activity moved lower — signaling operators may be tightening spending as commodity markets soften heading into Q4 2025.
The U.S. drilling market continues to “eek out” progress, stringing together modest week-over-week increases. Gains remain uneven—Texas is slipping while Colorado, Kansas, and Wyoming are seeing growth. Gas rigs continue to provide stability, while oil rigs drive incremental weekly gains.
The U.S. oil and gas rig count inched higher last week, marking the second consecutive weekly gain—a rare streak in 2025. According to the latest Baker Hughes data, the total rig count climbed to 539 active rigs, up two from the prior week.
The oil and gas sector may be facing daily volatility—just look at the XOP energy ETF, which recently suffered its worst daily performance since early August—but Baker Hughes continues to carve out a strong position in the global energy transition. Under the leadership of CEO Lorenzo Simonelli, the company is strategically diversifying beyond traditional oilfield services and leaning into long-term growth themes: natural gas, LNG exports, digital efficiency, and the rise of power-hungry data centers.
The U.S. drilling landscape continues to show signs of strain as the Baker Hughes rig count slipped by two last week, leaving 536 rigs active nationwide.
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.
U.S. drilling activity steadied this week after a three-week decline, signaling a pause in the sector’s recent slowdown. Baker Hughes reported the total rig count holding at 539.
According to the latest Baker Hughes Rig Count, the total number of active rigs rose by seven—the largest weekly gain since December
The national rig count has declined for the 11th consecutive week — the longest losing streak since the COVID-era downturn of mid-2020.
As the U.S. energy sector grapples with shifting market dynamics, the latest Baker Hughes rig count highlights a continued decline in drilling activity nationwide. With the total active rig count falling to 539—down 8 from the previous week and 46 below year-ago levels—states like Oklahoma are beginning to mirror the broader contraction.
