The U.S. oil and gas drilling sector continues its downward trend as the Baker Hughes rig count fell for the ninth consecutive week, marking the longest streak of declines since mid-2020. For the week ending June 28, 2025, the total active rig count dropped by 7 to 547 — a 6% decline year-over-year.
U.S. drilling activity continued its downward trend this week, with the total rig count falling by one to 554, according to the latest Baker Hughes report. Oklahoma saw a notable drop, losing two rigs to end the week at 47—despite being up from 35 rigs one year ago.
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.
U.S. total rig count: ↓ 2 to 576 — the lowest since January
Oil rigs: ↓ 1 to 473 (lowest since Jan)
Gas rigs: ↓ 1 to 100
Misc rigs: unchanged at 3
Offshore rigs: stable at 11
U.S. total rig count: ↓ 2 to 576 — the lowest since January
Oil rigs: ↓ 1 to 473 (lowest since Jan)
Gas rigs: ↓ 1 to 100
Misc rigs: unchanged at 3
Offshore rigs: stable at 11
For the first time in three weeks, U.S. energy firms trimmed the number of active oil and gas rigs, signaling caution amid persistent price pressures and policy uncertainty.
ccording to the latest Baker Hughes report, the total number of active oil and gas rigs rose by two to 587, although overall rig activity remains below last year’s levels.
Baker Hughes’ first quarter of 2025 tells a story of resilience, adaptation, and strategic recalibration. While the company reported flat year-over-year revenue and a noticeable decline from the prior quarter, its transformation efforts are beginning to pay off—particularly in how the company manages cost, structure, and future-facing opportunities.
This week’s rig count reflects a market in transition—steady oil drilling in some regions, sharp pullbacks in gas, and an overall trend of strategic restraint by operators. With the Permian Basin hitting a two-year low in rig activity and gas drilling at its weakest point since late 2024
This week’s rig count reflects a market in transition—steady oil drilling in some regions, sharp pullbacks in gas, and an overall trend of strategic restraint by operators. With the Permian Basin hitting a two-year low in rig activity and gas drilling at its weakest point since late 2024
