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Update: US Active Rig Count Drops by 1, Baker Hughes Says

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(Updated with additional details.)

The combined count of crude oil, natural gas, and miscellaneous rigs in the US dropped by one to 587 in the week ending July 24, according to data from Baker Hughes (BKR) released Friday.

The US oil rig count dropped by two from 452 the previous week to 450, while the number of gas rigs increased by one from 126 the previous week to 127, the data showed.

The number of miscellaneous rigs in the US was unchanged at 10. The US had 415 oil, 122 gas, and five miscellaneous rigs in operation a year earlier.

The consolidated North American oil and gas rig count, a key early indicator of future production levels, increased by 5 to 791 from 786 the previous week.

Price: $57.78, Change: $+1.69, Percent Change: +3.01%

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