US Oil Rig Count Rises to 454, Eagle Ford Hits Highest Since March 2025 in Sixth Weekly Gain

Baker Hughes reported 454 active oil rigs in the United States for the week ending August 7, 2026. That is up three from 451 the prior week. Gas rigs held steady at 127, and miscellaneous rigs remained at 10, putting the total US rig count at 591.

Year-over-year, the total US rig count sits roughly 48 rigs higher than the same week in 2025, a gain of approximately 9 percent. WTI crude settled near $77 per barrel on Friday, according to TradingEconomics, providing economic support for capital deployment in the major oil basins. Oil rigs account for 76.8 percent of all active US drilling activity this week.

Eagle Ford Leads With Highest Count Since March 2025

The Eagle Ford Shale in South Texas added two rigs in the most recent report, reaching 49 active rigs. That is the highest count for the Eagle Ford since March 2025. ConocoPhillips, which completed its acquisition of Marathon Oil Corporation in August 2024 for $22.5 billion, holds a major Eagle Ford position that came with that transaction. The deal made ConocoPhillips one of the largest operators in the basin by acreage.

ConocoPhillips posted 2,248 thousand barrels of oil equivalent per day in second-quarter 2026 output, with Eagle Ford contributing to that total, as our recent Q2 earnings analysis covered in detail. Devon Energy and Baytex Energy also operate in the Eagle Ford, adding further scale to basin activity. The basin's return to its highest rig count in 17 months reflects sustained operator confidence at current WTI prices.

North American Picture: US and Canada Combined

Last week's Baker Hughes data showed Canadian rigs at 219, a 7.3 percent increase led by Montney formation drilling ahead of a major partnership closing, as detailed in our Baker Hughes Canada analysis. The US total of 591 this week and Canada's 219 put the combined North American rig count near 810 active rigs. Canada's next Baker Hughes weekly release will arrive next Friday.

The US-to-Canada rig ratio holds near 2.7 to 1 this year. That ratio has remained relatively stable as both countries have added rigs in 2026, reflecting broadly supportive oil prices and LNG-driven gas demand. The North American combined total of approximately 810 rigs represents a sustained recovery from pandemic-era lows below 400 in 2020.

Output Projections and Implied Rig Productivity

The EIA Short-Term Energy Outlook projects US crude output will reach 13.8 million barrels per day in 2026, up from 13.6 million barrels per day in 2025. With 454 oil rigs active, that implies average output of approximately 30,400 barrels per day per active oil rig. This per-rig productivity figure reflects continuing gains from pad drilling, extended lateral lengths, and improved completion designs in tight-oil plays.

Demand forecasts offer more caution. OPEC reduced its 2026 global oil-demand growth projection for the third consecutive month in its most recent Monthly Oil Market Report. The International Energy Agency separately warned that slowing economic activity could weigh on consumption if energy prices remain elevated. Those competing signals have kept WTI below the $82 to $85 range that prevailed in early July.

Gas Rigs Steady as Storage Surplus Limits Incentive

US gas rigs held at 127 for a second consecutive week. Working natural gas inventories stood at 3,117 billion cubic feet for the week ending July 31, 2026, according to EIA data, some 195 billion cubic feet above the five-year average for that date. The EIA projects end-of-October inventories will reach 3,966 billion cubic feet, about 5 percent above the five-year average. That surplus limits financial incentives for new gas-focused drilling.