Active rig counts in US basins continue to grow with operators adding 11 for the week ending March 16 and 75 year to date, Enverus data showed, as the war in Ukraine continues and crude benchmarks remain above $100/b. The prolific Permian Basin, where production continues to expand well beyond pre-pandemic volumes, added 12 rigs week over week and has accounted for 40% of all US rig gains year to date. With 330 active rigs, the play now holds its most active rigs since April 2020. The only other oil-focused play to add a rig week over week was the Denver-Julesburg Basin, which increased by one to 18. It is still 36% less than the number of active rigs prior to the pandemic. The Permian has climbed to 23% less than the number of pre-pandemic […]