US Rig Count Reaches 562 as Permian Surge Nearly Closes Year-Over-Year Gap
According to RBN Energy, the US oil and gas rig count gained four rigs to reach 562 for the week ending May 29, 2026, based on Baker Hughes data, with the Permian Basin leading the way and the year-over-year gap narrowing to its smallest point in three years.
Market Tightening Fast
The Permian added five rigs this week, bringing its total to 255, and has now added 14 rigs over the past three weeks alone. That surge is driving a broader US recovery: total rig count is up 12 over the last 90 days and now sits just one rig below the same week in 2025, the narrowest year-over-year deficit since May 2023.
Oil-directed rigs climbed four to 429, while gas-directed rigs held steady at 125. Not every basin moved in the same direction. The Anadarko dropped one rig to 43, and the Gulf of Mexico fell one to nine. The Eagle Ford held flat at 46, while the Haynesville remained at 67 and Appalachia stayed at 36.
The weekly gains follow a strong run: the rig count jumped seven the prior week to 558, after a five-rig gain the week before that. The momentum is concentrated in oil-directed drilling, a signal that operators are responding to crude market conditions with renewed activity.
What It Means for Subcontractors
- Permian demand is accelerating. Fourteen rigs added in three weeks means oilfield service companies in West Texas and Southeast New Mexico should expect tighter crew and equipment availability. Start conversations with operators about forward work now.
- Bid pricing may shift. As the year-over-year rig gap closes toward zero, the pricing leverage that operators held during the 2024-2025 downcycle is fading. Subcontractors with specialized Permian capabilities are in a stronger negotiating position.
- Watch secondary basins for opportunity. The Anadarko and Gulf of Mexico each dropped a rig this week. Contractors with flexibility to work across basins may find openings where Permian competition is thinner.
- The recovery is oil-driven. Gas-directed rigs were unchanged at 125. Service companies focused on gas plays like the Haynesville or Appalachia are not seeing the same upward pressure, so capacity planning should reflect that split.
