Over the past month, oil prices have risen and fallen. Prices closed at $68.17 on September 30th. On October 7th, prices hit a high of $77.14. From there, prices have fallen to a low of $68.69 on October 18th. Prices closed at $71.78 on October 25th.
The October 24th Baker Hughes rig count report shows little change in the active rig count. Baker Hughes reports 585 active drilling rigs in the US. One month ago, the total active rig count was 588. One year ago, the total active rig count was 625.
The oil rig count is currently 480 rigs, compared to 488 one month ago and 504 one year ago. The gas rig count is 101, compared to 96 one month ago and 117 last October.
October 2024 Rig Count by Shale*
In the major plays, the Permian Basin rig count is at 304 rigs, down 3 from the September count.
In east Texas, the Eagle Ford has 49 active rigs, 1 more than in September.
The Haynesville rig count is 33 rigs, the same as last month.
The Anadarko rig count is 43 rigs, 2 up from September.
The active rig count in the Niobrara is 29 rigs, 1 more than last month.
The Williston Basin rig count is 34 rigs, no change from the September count.
The Appalachian has 32 active rigs, 1 less than last month.
October 2024 Rig Count by State*
*Data from October 2024, Baker Hughes Report.
| Bakken Region Total: 34 Montana: 1 North Dakota: 33 | Rocky Mountain Total: 145 Colorado: 12 New Mexico: 100 Utah: 11 Wyoming: 17 | Central Plains Total: 41 Oklahoma: 43 Kansas: 0 Arkansas: 0 |
| Gulf States Total: 42 Alabama: 0 Louisiana: 36 Mississippi: 0 | Texas Total: 283 | Appalachian Total: 33 Ohio: 10 Pennsylvania: 12 West Virginia: 10 |
For more detailed news and information on the oil industry, please visit our oilfield news and information page.
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