US Rig Count Hits 15-Month High on Fifth Straight Weekly Gain
US drillers added rigs for a fifth consecutive week, the longest such streak since early June, pushing the total count to its highest level since April 2025, according to a Reuters report via BOE Report citing Baker Hughes data. The rig count rose by seven to 588 for the week ending July 17, up 44 rigs, or 8%, from the same week last year. Oil rigs accounted for the gain, climbing seven to 452, the most since May 2025, while gas rigs held steady at 126.
Texas, the country’s top oil and gas producer, added two rigs to reach 274, its highest count since April 2025. Oklahoma also added two rigs, bringing its total to 50, the most since June 2025. The increase follows a stretch of pullbacks: the rig count fell 7% in 2025, 5% in 2024, and 20% in 2023 as operators prioritized shareholder returns and debt paydown over output growth. The EIA projects US crude output will rise from a record 13.6 million bpd in 2025 to 13.8 million bpd in 2026, with natural gas output climbing from 107.7 bcfd to 111.3 bcfd on rising power-generation and LNG export demand.
What It Means for Subcontractors
- Workover and completion crews in the Permian and Anadarko basins should prepare for tighter equipment and labor availability as Texas (274 rigs) and Oklahoma (50 rigs) post multi-month highs.
- Well services firms, including pressure pumping, wireline, and rig-up crews, can expect steadier fall workloads if the five-week uptrend holds, reversing 2023-2025’s declining rig activity.
- Electrical and mechanical contractors serving gas-directed operators should note the EIA’s projected jump to 111.3 bcfd in 2026, driven by data center power demand and LNG exports, a signal to line up bids tied to gas-processing and compression infrastructure.
