Over the past month, oil prices have risen and fallen. Prices closed at $72.53 on January 31st. On February 6th, prices hit a low of $70.61. From there, prices have risen to a high of $73.32 on February 11th. Prices closed at $70.40 on February 21st.
The February 21st Baker Hughes rig count report shows little change in the active rig count. Baker Hughes reports 592 active drilling rigs in the US. Last quarter, the total active rig count was 589. One year ago, the total active rig count was 626.
The oil rig count is currently 488 rigs, compared to 483 last quarter and 503 one year ago. The gas rig count is 102, compared to 99 last quarter and 120 last February.
February 2025 Rig Count by Shale*
In the major plays, the Permian Basin rig count is at 304 rigs, the same as last quarter’s count.
In east Texas, the Eagle Ford has 48 active rigs, 2 more than in December.
The Haynesville rig count is 30 rigs, 1 less than last quarter.
The Anadarko rig count is 49 rigs, 6 more than in December.
The active rig count in the Niobrara is 29 rigs, 1 more than last quarter.
The Williston Basin rig count is 33 rigs, 3 less than the December count.
The Appalachian has 35 active rigs, 1 more than last quarter.
February 2025 Rig Count by State*
*Data from February 2025, Baker Hughes Report.
| Bakken Region Total: 33 Montana: 1 North Dakota: 32 | Rocky Mountain Total: 146 Colorado: 9 New Mexico: 105 Utah: 12 Wyoming: 20 | Central Plains Total: 49 Oklahoma: 49 Kansas: 0 Arkansas: 0 |
| Gulf States Total: 31 Alabama: 0 Louisiana: 30 Mississippi: 0 | Texas Total: 280 | Appalachian Total: 35 Ohio: 9 Pennsylvania: 15 West Virginia: 11 |
For more detailed news and information on the oil industry, please visit our oilfield news and information page.
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