The oil sector spearheaded this week’s expansion, adding 6 active rigs to reach a total of 462, a gain of 44 rigs compared to the same period last year. Gas drilling softened slightly, dropping by a single unit to 132, while miscellaneous operations remained stagnant at 9. The Permian Basin served as the primary engine for this activity, contributing 4 new rigs to hit 274, while the Eagle Ford basin held steady at 49.

Downstream, the industry shows signs of accelerated completion cycles. Primary Vision’s Frac Spread Count climbed for the fourth consecutive week to 196, indicating that operators are successfully transitioning from drilling to bringing new wells online. These production gains arrive against a backdrop of cooling market sentiment, with Brent crude trading at $103.80 and WTI at $91.29 following a dip in late-week trading sessions.