The rig count in the Permian Basin was down four this week, the latest count Friday by Baker Hughes shows, with 333 rigs active in the region. A year ago, 349 rigs were active in the region.
Nationally, the oil and gas rig count is down six from last week at 669 rigs. A year ago, 758 rigs were active. The count shows that 530 rigs sought oil, down seven from the previous week, and 131 explored for natural gas, down two 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 $73.55 per barrel, up $1.65 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $77.07 per barrel, up $1.65 from the previous week.
