The rig count in the Permian Basin was up eight this week, the latest count Friday by Baker Hughes shows, with 343 rigs active in the region. A year ago, 231 rigs were active in the region.
Nationally, the oil and gas rig count is up 14 from last week at 728 rigs. A year ago, 455 rigs were active. The count shows that 576 rigs sought oil, up 13 from the previous week, and 150 explored for natural gas, up one 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 $109.71 per barrel, up $2.74 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $113.23 per barrel, up $2.74 from the previous week.
