The U.S. rotary rig count remained unchanged at 551 for the week ending February 20, 2026, according to the latest data from Baker Hughes. This marks no shift from the previous week but reflects a decline of 41 rigs compared to the same period last year, when the count stood at 592.
This stability comes amid fluctuating commodity prices and ongoing efficiency gains in the industry, signaling a cautious approach by operators in the face of market uncertainties.
The rig count serves as a key indicator of drilling activity and future production potential in the oil and gas sector. Below, we break down the report by rig type (oil, gas, and miscellaneous), major states, and key basins, drawing from the most recent detailed breakdowns available as of February 13, 2026 (with noted adjustments for the subsequent week where available). Note that while the total count held steady into February 20, internal shifts occurred, such as a reported increase of one rig in the Permian Basin to 239.
Breakdown by Rig Type
The U.S. rig count is categorized by the primary target commodity: oil, natural gas, or miscellaneous (which includes rigs targeting other resources like geothermal or not specified).
|
Rig Type
|
Current Count (Feb 13, 2026)
|
Change from the Previous Week
|
Change from Last Year
|
|---|---|---|---|
|
Oil
|
409
|
-3
|
-79
|
|
Gas
|
133
|
+3
|
+34
|
|
Miscellaneous
|
9
|
0
|
+2
|
Oil rigs, which dominate the count at about 74%, saw a slight dip, reflecting tempered activity in oil-focused plays amid price volatility. Gas rigs, comprising around 24%, edged higher, potentially buoyed by stronger demand for natural gas in power generation and exports.
Miscellaneous rigs held flat, representing just 2% of the total.
Breakdown by Major States
Drilling activity varies significantly by state, with Texas and New Mexico leading due to their overlap with prolific basins like the Permian.
|
State
|
Current Count (Feb 13, 2026)
|
Change from the Previous Week
|
% of Total U.S. Rigs
|
|---|---|---|---|
|
Texas
|
229
|
-3
|
41.6%
|
|
New Mexico
|
102
|
+1
|
18.5%
|
|
Oklahoma
|
45
|
-1
|
8.2%
|
|
Louisiana
|
41
|
+2
|
7.4%
|
|
North Dakota
|
26
|
-1
|
4.7%
|
|
Pennsylvania
|
20
|
+1
|
3.6%
|
|
Wyoming
|
17
|
+1
|
3.1%
|
|
Colorado
|
14
|
0
|
2.5%
|
Texas remains the epicenter of U.S. drilling, accounting for over 40% of active rigs, though it experienced a modest decline.
Breakdown by Major Basins
Basins provide a more granular view of activity, as they often correspond to specific geological plays with distinct oil or gas focuses.
|
Basin
|
Current Count (Feb 13, 2026)
|
Change from Previous Week
|
Change from Last Year
|
Primary Type
|
|---|---|---|---|---|
|
Permian
|
238
|
-3
|
-66
|
Oil
|
|
Haynesville
|
52
|
+2
|
+22
|
Gas
|
|
Eagle Ford
|
40
|
0
|
-8
|
Mixed (Oil-dominant)
|
|
Williston (Bakken)
|
28
|
-1
|
-5
|
Oil
|
|
Marcellus
|
26
|
+1
|
+3
|
Gas
|
|
Cana Woodford
|
22
|
0
|
+3
|
Mixed
|
|
Utica
|
14
|
0
|
+3
|
Gas
|
|
DJ-Niobrara
|
9
|
0
|
+3
|
Oil
|
|
Anadarko
|
(Included in Cana Woodford and others)
|
N/A
|
N/A
|
Mixed
|
The Permian Basin, the largest by far, saw a net decline but remains the powerhouse of U.S. oil production.
However, as of the week ending February 20, it reportedly rebounded slightly to 239 rigs.
Gas-focused basins like Haynesville and Marcellus showed gains, indicating resilience in the natural gas sector. The Eagle Ford held steady, while the Williston experienced a minor pullback.
Implications for Investors
For investors in the energy sector, the flat rig count suggests a period of consolidation rather than expansion. The year-over-year drop of 41 rigs points to disciplined capital spending by operators, prioritizing returns over growth amid volatile oil prices (hovering around $80-85 per barrel in early 2026) and geopolitical tensions. Efficiency improvements—such as longer laterals and better completion techniques—mean fewer rigs are needed to maintain or even grow production, which could support higher free cash flow for companies like those in the Permian.
However, the uptick in gas rigs offers opportunities in natural gas plays, especially with LNG export demand rising. Investors might look to diversified firms or those in resilient basins like Haynesville for stability. Overall, this data reinforces a “wait-and-see” market, where stock performance may hinge more on macroeconomic factors like interest rates and global demand than on rig additions.
Implications for Consumers
Consumers can expect short-term stability in energy prices, as the unchanged rig count supports steady U.S. production levels—the country remains the world’s top oil producer at over 13 million barrels per day. The emphasis on gas rigs could help keep natural gas prices in check, benefiting heating and electricity costs, especially in the winter months.
Longer-term, the year-over-year rig decline might signal tighter supply if demand grows, potentially leading to higher gasoline and energy bills. However, technological advancements have decoupled rig counts from production to some extent, mitigating risks. For everyday consumers, this report underscores the U.S.’s energy independence, reducing vulnerability to international disruptions.
In summary, the Baker Hughes report highlights a mature, efficient U.S. drilling landscape. While activity is down from last year, the stability suggests operators are adapting well to current conditions. Stay tuned to Energy News Beat for more updates on how these trends evolve.
Sources: oilprice.com, afeleaks.substack.com, rigcount.bakerhughes.com
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