The rig count in the Permian Basin was down two this week, the latest count Friday by Baker Hughes shows, with 354 rigs active in the region. A year ago, 292 rigs were active in the region.
Nationally, the oil and gas rig count is down four from last week at 771 rigs. A year ago, 604 rigs were active. The count shows that 613 rigs sought oil, down ten from the previous week, and 156 explored for natural gas, up six from the previous week.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in August of 2020 at 244.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $77.79 per barrel, up $1.45 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $81.31 per barrel, up $1.45 from the previous week.
