Rig Counts in the United States are Up, but What Does This Mean for Investors and Consumers?

The U.S. energy sector is showing signs of renewed activity, with the latest Baker Hughes rig count reporting an increase to 548 active rigs as of November 7, 2025. This marks a modest uptick of 2 rigs from the previous week, though the total remains down 37 rigs, or about 6%, compared to the same period last year. While this rise in rig counts signals potential growth in drilling operations, it raises questions about its implications for oil and gas supply, prices, investors, and everyday consumers.

In this article, we’ll break down the current rig counts in the U.S. by type, state, and basin; examine global trends; analyze stock performance among key oilfield services and exploration companies; and explore U.S. oil production volumes by publicly traded versus privately held entities.

Finally, we’ll discuss whether investors should consider privately held companies for tax-advantaged opportunities.

U.S. Rig Counts: A Closer Look

The U.S. rig count provides a snapshot of drilling activity, serving as a leading indicator for future oil and gas production. The recent increase is driven primarily by natural gas rigs, while oil rigs held steady.

By Type: Oil rigs: 414 (steady week-over-week); Gas rigs: 128 (up 3, highest since August 2023); Miscellaneous rigs: 6.

By State: Key states include Texas (leading with significant activity in the Permian), New Mexico (103 rigs earlier in the year, stable in Permian), and Oklahoma (held steady, though the exact current count is not specified in the latest reports). North Dakota and Louisiana also contribute, with activity focused on basins like Bakken and Haynesville.

By Basin: The Permian Basin, the largest U.S. oil-producing region, added 1 rig to reach 251. The Eagle Ford Basin remained at 43 rigs, and the Marcellus/Utica stayed at 23. These basins account for the bulk of U.S. shale activity, with the Permian alone representing a major driver of national output.

This uptick suggests operators are responding to somewhat stable energy prices and demand, particularly for natural gas, where the EIA projects a 56% price increase in 2025.

For consumers, more rigs could mean increased supply in the coming months, potentially stabilizing or lowering fuel prices at the pump. However, for investors in producers, higher production might cap price upside if global demand doesn’t keep pace.

Global Rig Counts: Trends by Country and Type

Globally, rig activity provides context for U.S. trends, influencing worldwide supply and prices. The latest available data from Baker Hughes for September 2025 shows a world total rig count of 1,812, including both North America and international operations.

Of these, global oil rigs numbered 748.

International rig counts (excluding North America) are reported monthly and often lag slightly. Major contributors include:Middle East: Saudi Arabia leads with over 230 active rigs as of August 2025, reflecting robust operations in one of the world’s top producers.

Other Key Countries: Activity is concentrated in regions like Latin America (e.g., Brazil, Mexico), Africa (e.g., Algeria, Nigeria), Europe (e.g., Norway), and Asia Pacific (e.g., India, Australia). Exact breakdowns by oil and gas vary, but oil-dominated countries like Saudi Arabia and the UAE focus heavily on crude, while gas plays are prominent in places like Qatar and Australia.

Global rig counts have remained relatively stable, with increases in some OPEC+ nations offsetting declines elsewhere. This balance could help moderate oil prices for consumers worldwide, but investors should watch for shifts in production quotas that might affect market dynamics.

Implications for Investors:

Stock Performance of Key CompaniesRising rig counts typically benefit oilfield services companies, which provide drilling equipment and support, while exploration and production (E&P) firms might face mixed outcomes due to potential oversupply. Here’s a look at year-to-date stock performance (as of November 8, 2025) for the top 5 oilfield services companies and top E&P companies, ranked by percentage change.