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US Oil Rig Count Hits 3-Year Low – Baker Hughes

Oil Gas Leads

The rig count is down 44% from its 2022 peak of 780 , reflecting both post-pandemic normalization and broader market hesitancy. Strategic Shift Toward Gas: Natural gas rigs are up 7 YoY , showing resilience. Producers may be pivoting to gas due to: Stronger gas prices.

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Oil Rigs Down, Gas Rigs Up – Weekly Drilling Snapshot – Baker Hughes

Oil Gas Leads

Capex trends : E&Ps to cut spending 3% in 2025 vs. 2024 2024: Flat spending 2023: +27%, 2022: +40%, 2021: +4% Crude Output Forecast (EIA) : 2024: 13.2 Capex trends : E&Ps to cut spending 3% in 2025 vs. 2024 2024: Flat spending 2023: +27%, 2022: +40%, 2021: +4% Crude Output Forecast (EIA) : 2024: 13.2

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Largest Weekly Oil Rig Drop Since 2023 – Baker Hughes

Oil Gas Leads

oil and gas sector faced a notable setback this week as the national rig count dropped by seven, bringing the total to 583 active rigsthe lowest level since early 2022. April 14, 2025 The U.S. According to the latest Baker Hughes report, oil rigs experienced the steepest single-week decline since June 2023, falling by nine to 480.

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U.S. Rig Count Rises – Baker Hughes

Oil Gas Leads

Notably, the Permian BasinAmericas top oil-producing regionsaw a drop of three rigs, bringing its total to the lowest level since February 2022. Overall Rig Count : Total U.S. rig count held relatively steady this week, with only a modest overall decline.

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Rig Activity Down, Production Up – May Rig Count Recap – Baker Hughes

Oil Gas Leads

Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9

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Permian Activity Drops to 2-Year Low – Baker Hughes

Oil Gas Leads

The Permian Basin, in particular, saw a notable drop, reaching its lowest rig total since February 2022. While Oklahoma, New Mexico, and several other key states held steady in drilling activity, the national rig count dipped againdriven largely by a sharp decline in natural gas rigs. Rig Count Trends Week Ending March 28, 2025 Overall U.S.

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MADE IN AMERICA: U.S.-Built Offshore Wind Substation and Support Vessels Start to Set Sail for Federal Waters

The Energy Law

The substation’s maiden voyage marks a major milestone in the development of Jones Act compliant offshore wind vessels necessary to bring the large amount of federal utility-scale projects in the pipeline to fruition. On April 14, 2022, in the wake of the Garamendi Amendment, the Department of Homeland Security’s U.S. 1331 et seq.