Oil prices dropped but both production and the rig count continue to climb in the Eagle Ford Shale. Figures released Friday afternoon in the Baker Hughes Rig Count show that oil-rich region just south of San Antonio now has 78 active rigs, an increase of three compared to last week. The Permian Basin of West Texas now has 340 active rigs while there are 426 scattered across the Lone Star State, which has now seen six weeks of growth in a row.

BING NEWS:
  • U.S. oil and gas rig count dips to lowest since January 2022, Baker Hughes says
    Total active rigs drilling for oil and gas in the U.S. fell by 6 to 594, the lowest total since January 2022, Baker Hughes reported Friday.
    06/7/2024 - 7:00 am | View Link
  • U.S. oil and gas rig count holds steady in latest Baker Hughes report
    the count fell in May for the third month in a row and dropped by 13, the most since August. Rigs targeting oil in the Permian Basin declined by 2 to 308, the Eagle Ford gained 1 to 48, and the ...
    05/31/2024 - 8:10 am | View Link
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