Highlights Oil rig count drops by 11 to 856, led by six rig decline in Permian Basin Gas rig count increases by one to 225 New York — The combined US oil and natural gas rig count fell by 25 to 1,085 during the reporting week that ended Wednesday, putting nationwide drilling activity at the lowest level since January 2018, S&P Global Platts Analytics data showed Thursday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Operators idled 11 oil rigs last week, dropping the oil rig count to 856, but added a single gas rig, for a total of 225. The cyclic steam rig count also dropped by one to four. Last week’s decline more than erased a 20-rig jump during the week prior, dropping the nationwide rig count to a 14-month low. While counts have oscillated up and down week-to-week, the overall trend has […]