1400 ET - The number of rigs drilling for oil in the U.S. was unchanged this week at 409, down by 79 from a year ago, oil services company Baker Hughes reports. Rigs drilling for natural gas were also unchanged at 133, but up by 34 from this time last year. The EIA expects marketed U.S. natural gas production to rise 2% this year to 120.8 billion cubic feet a day, and further to a record 122.3 Bcf/d in 2027. The production growth will come mainly from the Appalachia, Permian and Haynesville regions, the EIA said in a note. While oil prices are seen lower this year than in 2025, the EIA expects higher natural gas prices which will allow drilling in the Haynesville region to remain economical, "even with relatively deeper and more expensive well development." (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
February 20, 2026 14:00 ET (19:00 GMT)
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