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, 333 rigs were active in the region.
Nationally, the oil and gas rig count is up two from last week at 586 rigs. A year ago, 669 rigs were active. The count shows that 477 rigs sought oil, down one from the previous week, and 103 explored for natural gas, up three from the previous week. The count also shows six miscellaneous rigs, unchanged 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 $76.61 per barrel, down $2.08 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $80.13 per barrel, down $2.08 from the previous week.
