The U.S. dropped 21 active rigs in the last week to 517 rigs (May 19), according to Enverus Rig Analytics.  The week-over-week swing is most likely due to rigs moving between wells, the firm said in a May 19 note. Oil rigs rose by four and gas rigs dropped by one during the past week.

The total rig count was up about 43% over this time in 2020 and up 86% since falling to a record low of 244 in August 2020.

The Williston Basin has made some gains over the last year. The basin, home to the Bakken/Three Forks play, has averaged 10-13 active rigs, with daily counts not exceeding 16. Also in the Rockies region, Utah was averaging three rigs through the first quarter of this year and recently the rig count jumped to nine at the beginning of May.

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