Market Data
June 3, 2016
US Rig Count Rises for First Time Since August 2015
Written by Brett Linton
According to Baker Hughes data from June 3, 2016, the U.S rig count for the week was 408 rigs exploring for or developing oil or natural gas. This is up 4 rigs compared to last week, with oil rigs up 9 to 325 rigs, gas rigs down 5 to 82 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 408 count is down 460 rigs, with oil rigs down 317, gas rigs down 140, and miscellaneous rigs down 3.
This is the first time the US total active rig count has risen week-over-week since the week ending August 21, 2015; at that time there were 885 active rigs total, with 674 oil rigs, 211 gas rigs, and 0 miscellaneous rigs in operation.
