The U.S. oil and gas industry has seen significant fluctuations in rotary rig counts over the past decade. As of 2024, there were 460 active oil rigs and 94 gas rigs operating in the country, marking a substantial decrease from the peak years of 2013-2014. The decrease noted in 2024 comes amid lower demand outlooks and continued decrease in crude benchmarks throughout the second half of the year.
North America is home to the most oil rigs
North America continues to dominate the global oil and gas rig market, having more than double the number of oil rigs of the Middle East. The U.S. plays a pivotal role in this market dominance. Within the U.S. the Permian Basin, primarily located in Texas, stands out as the region with the highest concentration of oil rigs, boasting 300 active units as of November 2024. This is significantly more than other prominent areas such as Eagle Ford.
Most productive oil basins
Despite the overall decrease in rig counts, U.S. oil production has remained robust. The country reached a production peak of nearly 19.4 million barrels per day in 2023, solidifying its position as the world's leading oil producer. The Bakken and Permian basins have demonstrated particularly high efficiency in terms of new-well oil production per rig.
Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024
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Baker Hughes. (January 31, 2025). Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024 [Graph]. In Statista. Retrieved February 17, 2025, from https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed
Baker Hughes. "Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024." Chart. January 31, 2025. Statista. Accessed February 17, 2025. https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed
Baker Hughes. (2025). Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024. Statista. Statista Inc.. Accessed: February 17, 2025. https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed
Baker Hughes. "Number of Oil, Gas, and Miscellaneous Rotary Rigs in The United States at The End of Each Year from 2011 to 2024." Statista, Statista Inc., 31 Jan 2025, https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed
Baker Hughes, Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024 Statista, https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed (last visited February 17, 2025)
Number of oil, gas, and miscellaneous rotary rigs in the United States at the end of each year from 2011 to 2024 [Graph], Baker Hughes, January 31, 2025. [Online]. Available: https://www.statista.com/statistics/280141/oil-and-gas-wells-drilled-annually-in-the-united-states/?__sso_cookie_checker=failed