US Oil Drillers Continue To Back Off As Prices Languish Below Breakevens

US Oil Drillers Continue To Back Off As Prices Languish Below Breakevens

The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday

US Drillers Cut Oil and Gas Rigs for Third Week in a Row - Baker Hughes - Canadian Energy News, Top Headlines, Commentaries, Features & Events

(Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs operating for the third week in a row for the first time since mid April, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,…

U.S. Oil and Gas Drillers Backing Off or Slowing Down

U.S. oil and gas drillers are slowing down drilling activities, as evidenced by a consistent decline in active rig counts across major basins in 2024 and 2025. This slowdown is driven by several factors: Lower Oil and Gas Prices: West Texas Intermediate (WTI) crude prices have hovered around $62 per barrel in 2025, close to the break-even point for many Permian Basin wells ($61-65/barrel). Low natural gas prices, with Henry Hub dropping to $1.8…