U.S. Oil Rig Count Flat Despite Hurricane Harvey

1 Sep 2017   USA

The number of active oil and gas rigs in the United States rose this week by 3 rigs, largely dispelling earlier analyst notions that Hurricane Harvey would delay as much as 10 percent of upcoming fracking work, and suspend roughly half the rigs in Eagle Ford. The total oil and gas rig count in the United States, post Harvey, now stands at 943 rigs, up 446 rigs from the year prior, with the number of oil rigs in the United States flat this week and the number of gas rigs increasing by 3. Oil rigs in the United States now number 759—352 rigs above this time last year. While some were expecting a boost in oil prices due to an expectation that there would be a Harvey-related drop in the number of active US rigs, refinery shutdowns in the US—which had climbed to about a third of total crude […]

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