Despite Uncertain Oil Prices, US Drillers Continue to Add Rigs
By Julianne Geiger (https://oilprice.com/contributors/Julianne-Geiger/) - February 6, 2026
The number of active oil and gas drilling rigs in the United States increased by 5 this week, according to data released by Baker Hughes on Friday. This brings the total rig count to 551, a decrease of 35 from the same time last year.
The number of active oil rigs rose by 1 to 412, which is 68 fewer than last year. However, the number of gas rigs increased by 5 to 130, 30 more than the previous year. The miscellaneous rig count remained stable at 9.
The latest EIA data revealed that U.S. crude oil production fell again, by 481,000 bpd in the week ending January 30, to an average of 13.215 million bpd. This is 647,000 bpd below the all-time high.
Primary Vision's Frac Spread Count, an estimate of well completion crews, dropped significantly during the week ending January 30, losing 15 crews and reaching its lowest point in five years at 148.
In the Permian Basin, the number of active drilling rigs decreased by 1 to 241, 62 fewer than the previous year. The Eagle Ford count remained steady at 40, 8 fewer than the same time last year.
Oil prices were higher the day before the data release. Brent futures are trading at $68.72 per barrel (+1.73%), while WTI is trading up $1.05 per barrel at $64.34, down week over week.
This trend raises questions about the sustainability of the drilling activity in the face of price volatility. Despite the uncertain market conditions, US drillers continue to invest in new rigs, suggesting a long-term commitment to the industry.
Julianne Geiger for Oilprice.com
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