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Daily Prices

8/30/24

U.S. Pulls One Natural Gas Rig as Oil Count Holds Steady

By Chris Newman

on
Published in: Daily Gas Price Index Filed under:

The U.S. natural gas rig count fell by one unit to 97 for the week ending Friday (Aug. 23), according to updated data from Enverus and Baker Hughes Co. (BKR).

A chart detailing the natural gas and oil rigs in service in the United States during the week of Aug. 23, 2024.

That week/week decline in natural gas rigs accounted for the overall trend in domestic rigs, down by one at 585 with the oil count unchanged. The natural gas rig count compares with 115 running a year earlier, according to the latest numbers.

Land drilling accounted for the total one-rig decline as units in the Gulf of Mexico were unchanged on the week. One directional rig exited during the week to drop the segment count to 47, the data show. Horizontal rigs added three units to finish at 524, while vertical rigs shed three units to end at 14.

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Chris Newman

Chris Newman joined NGI in October 2023. He worked 18 years at Argus Media, starting in 2004 in Washington, D.C., where he covered U.S. thermal/coking coal markets and rail transportation. In 2014, he moved to Singapore to help lead Argus’ coverage of steel and its raw material feedstocks. A graduate of the University of Virginia, Chris returned to his native Virginia in 2021.