Baker Hughes: Permian Hits 268 Rigs as US Total Holds at 588; Haynesville and Marcellus Each Shed One After Last Week's Gas Surge

Baker Hughes reported Friday that the United States active rig count held flat at 588 for the second consecutive week. A two-rig gain in oil drilling absorbed an equal loss in gas-focused basins. The Permian Basin added one rig to reach 268 active units, while Haynesville and Marcellus each shed one after last week's five-rig gas surge.

Permian Extends Its 2026 Recovery to 268 Active Rigs

The Permian Basin counted 268 rigs this week, up one from the 267 reported in Oil Authority's August 27 coverage of ExxonMobil's Pioneer integration milestone. The basin commands 45.6 percent of all 588 active US rigs, well ahead of every other producing region. Cana Woodford added one rig to reach 21, and DJ-Niobrara gained one to reach 11. Eagle Ford held at 50.

ExxonMobil's 2024 acquisition of Pioneer Natural Resources, now its US unconventional business unit, positions the company as the Permian's largest single operator. Pioneer integration delivered record output of 1.8 million barrels of oil equivalent per day earlier this year, per ExxonMobil's investor reporting. The Permian's 268 rigs stand 26 units above the basin's January 2026 trough of 242, a 10.7 percent recovery in active drilling since the year's low point.

Granite Wash lost one rig, falling to 18 active units. All other tracked basins held flat for the week. Oil rigs nationally rose two to 449, gas rigs fell two to 130, and miscellaneous rigs held at nine.

Gas Plays Reverse After Last Week's Five-Rig Surge

US gas rigs fell to 130 this week, giving back two of last week's five-rig surge that had lifted the count to 132, a five-week high, per Oil Authority's August 28 rig count report. Haynesville fell one to 56 rigs and Marcellus dropped one to 23. Together, those two gas shale plays account for 79 of the 130 active US gas rigs, or 60.8 percent of the entire US gas drilling fleet.

Haynesville and Marcellus each lost one rig in the week following their combined five-rig addition, a rapid reversal. Gas-weighted operators in both basins have maintained restrained capital programs through 2026, with drilling decisions tracking price signals closely. The combined 79 Haynesville and Marcellus rigs are concentrated enough that single-rig changes move the national gas total meaningfully.

The Marcellus, at 23 active rigs, sits well below its pre-2020 peak levels in Appalachia. ConocoPhillips, through its Burlington Resources Appalachia position, and Devon Energy both carry limited Marcellus exposure alongside larger oil-weighted footprints in the Permian and Eagle Ford. Both companies have redirected capital toward oil basins where WTI above $90 per barrel delivers greater returns than current US gas prices allow in Appalachia.

Canada Drops Seven; WTI, Brent, and WCS Settlement Context

Canadian active rigs fell seven to 204 this week, outpacing the US in proportional weekly decline. Seasonal factors typically compress Canadian fall drilling schedules as operators complete summer programs ahead of winter freeze-up. North America's combined active count stands at 792 rigs, with the US accounting for 74.2 percent of the total.

WTI crude settled at $91.48 per barrel on Friday's CME close, up 0.20 percent on the day. Brent settled at $95.23 per barrel on Friday's ICE close, down 0.31 percent, producing a Brent-WTI spread of $3.75 per barrel. Western Canadian Select traded at $14.80 per barrel below WTI, placing WCS at $76.68 per barrel USD, per CalRock brokerage data cited by EnergyNow.

The WCS discount compresses netback revenue for oil sands producers including Suncor Energy and Canadian Natural Resources. Permian operators earn WTI-linked pricing and carry margin buffers of $26 to $41 per barrel above typical full-cycle breakevens of $50 to $65 per barrel, per RBC Capital Markets and Wood Mackenzie estimates. That advantage sustains Permian drilling momentum even as Canadian activity pulls back seasonally.

Weekly Basin Summary

• Permian: 268 rigs (up 1)
• Haynesville: 56 rigs (down 1)
• Eagle Ford: 50 rigs (flat)
• Marcellus: 23 rigs (down 1)
• Cana Woodford: 21 rigs (up 1)
• Granite Wash: 18 rigs (down 1)
• DJ-Niobrara: 11 rigs (up 1)
• US Total: 588 rigs (unchanged)
• Canada: 204 rigs (down 7)