The rig count in the Permian Basin was up one this week, the latest count Friday by Baker Hughes shows, with 272 rigs active in the region. A year ago, 154 rigs were active in the region.
Nationally, the oil and gas rig count is up six from last week at 556 rigs. A year ago, 312 rigs were active. The count shows that 454 rigs sought oil, up four from the previous week, and 102 explored for natural gas, up 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 $77.27 per barrel, down 48 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $80.79 per barrel, down 48 cents from the previous week.
