Independent oil and gas producers remain the backbone of U.S. upstream activity, according to a new study by Rystad Energy commissioned by the American Exploration & Production Council (AXPC). The report underscores the sector’s outsized role in driving production, jobs and government revenue.
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, following a period of no change in the prior week.
The total rig count in the US rose by 1 to 593 rigs, according to Baker Hughes, down 31 from this same time last year as the oil industry tries with great difficulty to appreciate the pro-hydrocarbon sentiment of the Trump Administration despite it being encouched in oil prices that are not enticing for drillers.
The number of oil rigs slipped by 1 to 486—down by 23 compared to this time last year. The number of gas rigs rose by 2 this week to 102 for a loss of 10 active gas rigs from this time last year. Miscellaneous rigs were unchanged at 5.