US land rig activity in oil basins appears to have hit rock bottom as the count of horizontal oil-focused rigs declined by one more during the week of 13 July, falling from 157 rigs to 156 rigs, according to Rystad Energy. The one-rig decline originated from the Permian. Other oil basins saw a net zero change in the number of active rigs, as the addition of one rig in Eagle Ford was offset by a rig count decline in central Texas.
Gas-focused drilling saw another week of declines, decreasing from 63 active rigs down to 59. Most of these declines came from the Utica part of the Appalachian Basin, but Haynesville also lost one rig.