US Weekly Rig Operator Report

Week Ending May 8, 2026 U.S. Rig Count Edges Higher for Third Straight Week The Baker Hughes U.S. rotary rig count rose by 1 rig to 548 for the week ending May 8, 2026.

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This marks the third consecutive weekly increase and brings the total 29 rigs below year-ago levels (the narrowest year-over-year gap since late January). Oil-directed rigs climbed by 2 to 410, while gas-directed rigs slipped by 1 to 129 and miscellaneous rigs held steady at 9.

Enverus’ daily rig count (which tracks more than 95% of the U.S. fleet via GPS) showed a higher and more granular picture, with the count at 599 rigs as of May 7 — down just 1 rig day-over-day but up 29 rigs (5.1%) over the past month and essentially flat year-over-year. The difference between Baker Hughes’ weekly snapshot and Enverus’ near-real-time data reflects methodology:

Baker Hughes uses a Friday count of active rigs, while Enverus captures daily movement across a broader sample.

And we see strong consistency using WellDatabase’s reporting system.

Basin and State Highlights

Activity remained relatively stable with modest shifts concentrated in a few key areas:

Permian Basin (primarily Texas and New Mexico): Baker Hughes noted a +1 rig gain. Enverus reported 239 rigs as of May 7 (down 1 day-over-day but up 9 over the past month). The Permian continues to dominate U.S. activity.

Anadarko Basin (Oklahoma and Texas Panhandle): Baker Hughes showed +1 rig; Enverus listed 58 rigs (up 1 day-over-day and +7 over the past month).

Gulf Coast Basin (including Eagle Ford): Enverus showed 68 rigs (down 2 day-over-day but up 5 over the past month and +6 year-over-year). Baker Hughes noted a -1 rig decline in the Gulf of America offshore component.

Williston Basin (North Dakota/Montana): Enverus reported 25 rigs (down 1 day-over-day).

Appalachia (Pennsylvania, Ohio, West Virginia): Enverus held at 35 rigs.

DJ Basin (Colorado): Enverus showed 8 rigs.

Other basins: Enverus tallied 166 rigs (up 1 day-over-day and +10 over the past month).

Texas remains the clear leader in state-level activity (driven by Permian and Eagle Ford), followed by New Mexico, North Dakota, Oklahoma, and Pennsylvania. Offshore Gulf of America activity stayed minimal and saw a small decline.

WellDatabase top 10 Counties and Basins:

Operator Activity
Baker Hughes does not publish operator-level breakdowns in its weekly report.

Enverus’ daily and quarterly analytics typically highlight top drillers (often majors and large independents such as ExxonMobil/Pioneer, Chevron, EOG Resources, and ConocoPhillips in the Permian, with others active in the Williston, Anadarko, and Appalachia).

Without public weekly operator-specific rig counts in the latest releases, the data shows broad stability among active operators, with no major fleet additions or retirements reported this week. The focus remains on efficiency and capital discipline rather than rapid rig growth.

Oil and Gas Inventory Levels (Week Ending May 1, 2026)
The EIA’s Weekly Petroleum Status Report (released May 6) showed continued draws in commercial crude stocks amid global supply tightness:U.S. commercial crude oil inventories (excluding SPR): Fell 2.3 million barrels to 457.2 million barrels — about 1% above the five-year average for this time of year.

Strategic Petroleum Reserve: Stood at 392.7 million barrels (down 5.2 million barrels week-over-week).

Natural gas working gas storage (EIA report released May 7): Rose by 63 Bcf to 2,205 Bcf as of May 1. Stocks are now 75 Bcf above last year and 139 Bcf (6.7%) above the five-year average of 2,066 Bcf. Injections remain on the softer side of seasonal expectations heading into summer.

Market Context
The modest rig count uptick occurs against a backdrop of relatively stable but cautious drilling. Oil-directed rigs (75% of the fleet) continue to dominate, reflecting sustained crude prices and operator focus on Permian efficiency. Gas rigs remain a smaller share but have shown some resilience year-over-year. Inventory draws in crude and above-average gas storage levels suggest balanced near-term fundamentals, though global events (including Middle East developments) continue to influence sentiment.