Overall Rig Count Stabilizes

U.S. energy firms kept the number of oil and gas rigs operating unchanged this week with some analysts expecting producers to have shut rigs before Hurricane Laura hit the Gulf Coast.

In August, the oil and gas rig count rose by three to 254, the first monthly increase since December, according to data from Baker Hughes Co. on Aug. 28.

According to Enverus, July drilling and completion activity levels in the seven major shale plays in the U.S. fell to the lowest level since the U.S. Energy Information Administration (EIA) started recording drilled and uncompleted data in late 2013. Only 292 wells were drilled and 262 were completed.

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