The rig count in the Permian Basin was down two this week, the latest count Friday by Baker Hughes shows, with 327 rigs active in the region. A year ago, 346 rigs were active in the region.
Nationally, the oil and gas rig count is down five from last week at 654 rigs. A year ago, 763 rigs were active. The count shows that 525 rigs sought oil, unchanged from the previous week, and 123 explored for natural gas, down five 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 $79.67 per barrel, up 37 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $83.19 per barrel, up 37 cents from the previous week.
