The rig count in the Permian Basin was down one this week, the latest count Friday by Baker Hughes shows, with 303 rigs active in the region. A year ago, 310 rigs were active in the region.
Nationally, the oil and gas rig count is unchanged from last week at 585 rigs. A year ago, 618 rigs were active. The count shows that 479 rigs sought oil, down one from the previous week, and 102 explored for natural gas, up one from the previous week. The count also shows four miscellaneous rigs, unchanged 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 $65.97 per barrel, down $2.29 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $69.49 per barrel, down $2.29 from the previous week.
