en.Wedoany.com Reported - U.S. energy services firm Baker Hughes reported in its latest weekly rig count on Friday that the total number of U.S. oil and gas rigs increased by 1 to 588 in the week ended July 31, marking the sixth increase in the past seven weeks and standing 48 rigs, or 9%, higher than the same period last year. Rig counts are viewed as an early indicator of future output.
Breakdown data showed that oil rigs rose by 1 to 451 during the week, the highest level since mid-July; gas rigs held steady at 127; and miscellaneous rigs remained at 10.
By region, rigs in the Eagle Ford shale play in South Texas increased by 2 to 49, the highest since March 2025. Rigs in the Utica play spanning Pennsylvania, Ohio, and West Virginia fell by 1 to 11, the lowest since May 2025; Ohio rigs declined by 1 to 10, also marking the lowest since May 2025. The Utica and Marcellus together form the Appalachian formation, the largest gas-producing shale basin in the United States.
Looking at recent trends, the total U.S. oil and gas rig count fell 7% in 2025, 5% in 2024, and 20% in 2023, mainly because lower U.S. oil prices prompted energy companies to prioritize boosting shareholder returns and paying down debt over increasing output.
On prices, due to supply disruptions from the Iran war, West Texas Intermediate (WTI) crude spot prices are expected to rebound in 2026 after three consecutive annual declines in 2023, 2024, and 2025. The U.S. Energy Information Administration (EIA) projects U.S. crude oil production will rise from a record 13.6 million barrels per day (bpd) in 2025 to 13.8 million bpd in 2026.
On natural gas, the EIA expects U.S. gas production to rise from a record 107.7 bcfd (billion cubic feet per day) in 2025 to 111.3 bcfd in 2026, driven by power generation for electricity-hungry data centers and rising liquefied natural gas (LNG) export demand.
