The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 305 rigs active in the region. A year ago, 337 rigs were active in the region.
Nationally, the oil and gas rig count is down one from last week at 584 rigs. A year ago, 675 rigs were active. The count shows that 478 rigs sought oil, down one from the previous week, and 100 explored for natural gas, down one from the previous week. The count also shows six miscellaneous rigs, 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 $78.69 per barrel, down 95 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $82.21 per barrel, down 95 cents from the previous week.
