U.S. Rig Count Holds Steady as Oil Drilling Slips and Gas Activity Climbs

Why It Matters

The shift toward more gas drilling and weaker oil completions hints at evolving supply dynamics that could temper future oil price gains and reshape regional investment strategies.

Key Takeaways

• Total rigs steady at 551, unchanged week‑over‑week.
• Oil rigs down three, now 409, 72 below year‑ago.
• Gas rigs up three, reaching 133, 32 above last year.
• Crude output rose to 13.713 m bpd, near record.
• Permian rigs fell to 238, frac spreads declined.

Pulse Analysis

The latest Baker Hughes data underscores a subtle but notable transition in U.S. drilling activity. While the aggregate rig count remains unchanged, the composition is shifting: oil rigs continue to contract, whereas gas rigs are expanding modestly. This rebalancing reflects operators’ response to higher natural‑gas prices and the growing demand for cleaner‑burning fuels, positioning gas as a more attractive short‑term investment despite the lingering allure of oil’s price volatility.

Production figures reinforce the narrative. U.S. crude output rose to 13.713 million barrels per day, just shy of the historic peak, driven largely by existing wells rather than new completions. The decline in Permian rigs and the dip in frac‑spread crews suggest that the surge in oil supply may be slowing, potentially easing upward pressure on inventories. Meanwhile, the Eagle Ford’s steady rig count hints at localized stability, but the broader trend points to a softer oil‑completion pipeline, which could temper future output growth.

For investors and policymakers, these dynamics carry weighty implications. A modest pivot toward gas drilling may support domestic energy security while aligning with emissions‑reduction goals, yet the lingering strength in crude production keeps price volatility alive. Market participants should monitor regional rig shifts, especially in the Permian, as they often precede larger supply‑demand imbalances. In the near term, the balanced rig count suggests a cautious outlook, with oil prices likely to remain range‑bound unless geopolitical or macroeconomic shocks intervene.

U.S. Rig Count Holds Steady as Oil Drilling Slips and Gas Activity Climbs

By Julianne Geiger · Feb 13, 2026, 12:11 PM CST

• Total U.S. rig count remained at 551, with oil rigs down three and gas rigs up three.

• U.S. crude production rose to 13.713 million bpd, nearing an all‑time high.

• Permian rig activity declined again while frac‑spread counts signaled softer completion momentum.

The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, keeping the total rig count in the U.S. at 551, down 37 from this same time last year.

The number of active oil rigs fell by 3 (to 409) during the latest reporting period, 72 below the same time last year. The number of gas rigs rose by 3, reaching 133, which is 32 more than this time last year. The miscellaneous rig count stayed the same at 9.

The latest EIA data showed that weekly U.S. crude oil production rose this week by 498,000 bpd in the week ending February 6, to 13.713 million bpd on average, 149,000 bpd under the all‑time high.

Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell again during the week ending February 6, sinking by 3 after losing 15 crews in the week prior.

The number of active drilling rigs in the Permian Basin fell again this week, dropping by 3 to 238, which is 66 rigs below year‑ago levels. The count in the Eagle Ford held steady at 40, which is 8 fewer than this same time last year.

Oil prices were trading higher on the day prior to the data release. Brent futures were trading at $67.87 per barrel (+0.52 %) and WTI was up $0.18 per barrel at $63.02, down week over week.

By Julianne Geiger for Oilprice.com