• January 17, 2020

US rig count down 11 as oil prices rise - Odessa American: Weekly Rig

US rig count down 11 as oil prices rise

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Posted: Friday, November 15, 2019 2:30 pm

The rig count in the Permian Basin was down by four this week, the latest count Friday by Baker Hughes shows, with 408 rigs active in the region. A year ago, 493 rigs were active in the region.

Nationally, the oil and gas rig count is down 11 from last week at 806 rigs. A year ago, 1082 rigs were active. The count shows that 674 rigs sought oil, down ten from the previous week, and 129 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 May of 2016 at 404.

The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $54.25 per barrel, up 50 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $57.72 per barrel, up 48 cents from the previous week.

Reference Links

DAILY OIL PRICE: January 17

  • Crude Oil: 58.54 (+0.02).
  • Nymex MTD AVG:  60.0225.
  • Natural Gas: 2.003   (-0.074).
  • Gasoline: 1.6406   (-0.0142).
  • Spreads: February/March   (-.04)   March/April   (+.07).
  • Plains WTI Posting: 55.00   (0.00)
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