US Drillers Pick Up The Pace

Group 1: Rig Count and Production Data - The total number of active drilling rigs in the US increased by 5 to reach 554, which is down 29 from the same time last year [1] - Active oil rigs rose by 2 to 419, reflecting a year-over-year decline of 60 rigs; gas rigs also increased by 2 to 127, which is 28 more than last year [2] - The active drilling rigs in the Permian Basin rose by 1 to 254, which is 49 rigs lower than the previous year [3] Group 2: Production Trends - Weekly US crude oil production slightly dipped to an average of 13.834 million barrels per day, just 28,000 barrels per day below the all-time high [2] - Primary Vision's Frac Spread Count increased by 2 to 175, ending a three-week decline, but is down from 201 at the beginning of the year [3] Group 3: Market Prices - WTI benchmark crude oil was trading down by $1.11 per barrel at $57.89, and Brent benchmark was down $1.01 per barrel at $62.37, reflecting a decrease of approximately $2 per barrel week over week [4]