Baker Hughes June 26 Rig Count: US Total Hits 573 as Oil Rigs Rise 7 and Permian Basin Holds 258

Baker Hughes reported 573 total active US rotary rigs for the week ending June 26, 2026, a gain of 10 from the prior week and 26 above the year-ago count. Oil rigs led the increase, rising 7 to 440. Gas rigs added 3 to 125, and miscellaneous rigs held steady at 8.

Permian Basin Leads US Drilling Activity

The Permian Basin held 258 active rigs this week, accounting for 45 percent of all US drilling activity. Permian operators added 2 rigs in the week. Eagle Ford maintained 44 active rigs, unchanged from the prior count and 3 above the year-ago level.

The Permian rig count of 258 sits 12 units below the year-ago comparison despite the US total running 26 rigs higher year-over-year. Gas rig growth of 16 rigs year-over-year represents the strongest segment gain in the count. Total oil rig year-over-year growth of 8 rigs has been led by non-Permian basins including the Eagle Ford and Anadarko.

US Crude Production Reaches 13.8 Million Barrels Per Day

US crude oil production averaged 13.819 million barrels per day during the reporting period, up from 13.806 million bpd the prior week. Year-over-year production growth stands at 384,000 barrels per day. The 573 active rigs supporting this output imply roughly 24,100 barrels per day of production per active rig.

A year ago, approximately 547 active rigs supported production of about 13.435 million bpd, or about 24,560 bpd per rig. That per-rig figure has edged down slightly as the count grew, reflecting that newer wells in the rotation are producing at somewhat lower initial rates than those drilled a year ago. Permian production leads US output growth, with the basin contributing the majority of the 384,000 bpd year-over-year gain.

Operators Drilling Despite Falling Prices

WTI crude settled at $69.46 per barrel on the CME on Thursday's close, a decline of 3.42 percent. Brent settled at $72.12 per barrel on ICE, falling 4.17 percent. Both benchmarks sit well below the $96 per barrel Brent average the US Energy Information Administration projected for full-year 2026 in its April Short-Term Energy Outlook, when Hormuz shut-ins reached 9.1 million barrels per day.

Goldman Sachs cut its Q4 2026 Brent forecast to $80 per barrel from $90 after the Trump administration reached a deal to reopen the Strait of Hormuz. The bank set its 2027 Brent average forecast at $75 per barrel, down from $80. In a downside scenario, Goldman placed Q4 2026 Brent below $70 and 2027 Brent below $60, which would strain operator economics for less productive US basins.

The week-over-week gain of 10 rigs is the largest single-week increase since April 2026, suggesting operators held their drilling schedules through June's price slide. Gas rig additions of 3 rigs this week may reflect LNG export commitments and longer-cycle decisions rather than short-term Henry Hub pricing. Henry Hub natural gas settled at $3.304 per MMBtu on the CME on Friday, up 0.27 percent.

Baker Hughes North American Count: Released Every Friday

Baker Hughes releases its North American rig count each Friday at approximately 1 PM Eastern. The June 26, 2026 count did not include updated Canada rig data. The US count of 573 is the highest weekly reading since June 2025 and represents five consecutive weeks of totals above 560.