The rig count in the Permian Basin was up two this week, the latest count Friday by Baker Hughes shows, with 245 rigs active in the region. A year ago, 117 rigs were active in the region.
Nationally, the oil and gas rig count is up nine from last week at 500 rigs. A year ago, 244 rigs were active. The count shows that 397 rigs sought oil, up ten from the previous week, and 102 explored for natural gas, down 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 $64.92 per barrel, up 16 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $68.44 per barrel, up 16 cents from the previous week.
