EOA Rig Count Report
MAIN TAKEAWAYS
The total number of rigs decreased by seven from the previous week (oil: -3, gas -4). This decline is normal for this time of the year.
The oil-directed rig count in tight oil plays was FLAT week-over-week (WoW).
The oil-directed rig count in the Permian Basin was also FLAT at 350 rigs, the highest since early April 2020.
While high oil prices in 2022 failed to stimulate drilling activities in the Gulf of Mexico (GoM), the number of rigs increased by one last week.