U.S. drilling rig count stays flat after string of declines in Baker Hughes survey

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The number of total oil and gas drilling rigs in the U.S. remained unchanged at 539, after the count had declined in 14 of the previous 15 weeks, Baker Hughes reported Friday in its latest weekly survey [https://rigcount.bakerhughes.com/].

Oil rigs added 1 to 412 during the week, while gas rigs fell by 1 to 122 and 5 rigs continued to be classified as miscellaneous.

The total rig count was down 47 rigs, or 8% below this time last year.

In Texas, the biggest oil and gas producing state, the total rig count fell by 1 to 242, and in the Permian Basin, the top U.S. oil-producing shale formation, the total rig count lost 1 to 255, the lowest since September 2021 for both areas.

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