Rig count stable since end of May

Since the end of May, the U.S. rig count has stabilized at around 300 operating rigs. According to Enverus, there were some increases—five new rigs in the Delaware and Midland basins (two by Exxon Mobil) and three in Eagle Ford (one by Marathon Oil, which hasn’t has had three active rigs in the play since the end of April). This is the third week in a row that oil and gas rigs were added to the U.S. rig count.

The number of rigs running at the end of the third quarter was up 18% compared to the end of the second quarter. During the same period, every region saw an increase except the Northeast, which dropped one rig to 36. Activity in the Rockies has hovered around 17 rigs. Meanwhile, the Ark-La-Tex has also remained stable and the Midcontinent region has about 97 rigs running.

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