U.S. onshore oil and gas drilling activity increased by 8 rigs in the most recent weekly count, according to UBS Evidence Lab. That advance is the largest single-week rise since activity grew by 10 rigs in late May and constitutes the second-largest weekly move recorded in 2026.
Regional breakdown
The Permian Basin drove the national gain, adding 5 rigs - the basin's biggest weekly rise since April. Within the Permian, the Delaware sub-basin accounted for 3 of the new rigs, while the Midland added 2. Other basins contributing to the net increase included the Williston and DJ basins, which each added 1 rig. The Haynesville saw a decline of 1 rig and Appalachia added 1 rig.
On a four-week average basis, the Lower 48 active rig count stands at 632 rigs. That metric is now 15% higher than at year-end 2025. Breaking activity down by commodity shows oil-targeted rigs up 29% year-to-date relative to year-end 2025, while gas-targeted rigs are down 11% over the same comparison.
Activity among public operators
Within UBS-covered public operators, the total active rig count held flat on the week at 273 rigs. A number of individual operators changed activity levels: Devon Energy, Occidental Petroleum, Crescent Energy, and Excelerate Energy each added 1 rig. Chevron reduced its activity by 2 rigs, while Shell and Magnolia Oil & Gas each cut 1 rig.
ExxonMobil remains the most active public operator in the UBS sample with 36 rigs. Other leading public counts include Devon Energy at 33 rigs, ConocoPhillips at 30 rigs, Occidental at 24 rigs, and EOG Resources at 21 rigs.
Private operators continued to increase their portion of the active rig base. During the week covered by UBS, the share of active rigs operated by companies within UBS coverage fell from 44% to 43%.
Alternative rig tally and price context
Separately, Baker Hughes' weekly rig report showed a 3-rig increase in U.S. rigs for the same period, including a 5-rig rise in the Williston Basin - that 5-rig addition was the Williston's largest weekly jump in three years, per the Baker Hughes release.
On the price front, front-month West Texas Intermediate crude is up 23% month-to-date, while the 2027 futures strip has risen 6%.
Takeaway
The UBS Evidence Lab data point to a notable weekly rebound in U.S. drilling activity, led by the Permian, with public operator counts broadly steady and private operators incrementally increasing their market share. Price moves show upward momentum in near-term WTI and in the 2027 strip.