• April 8, 2020

Rig count soars - Odessa American: Weekly Rig

Rig count soars

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Posted: Friday, December 20, 2019 2:30 pm

The rig count in the Permian Basin was up 14 this week, the latest count Friday by Baker Hughes shows, with 414 rigs active in the region. A year ago, 486 rigs were active in the region.

Nationally, the oil and gas rig count is up 14 from last week at 813 rigs. A year ago, 1080 rigs were active. The count shows that 685 rigs sought oil, up 18 from the previous week, and 125 explored for natural gas, down four 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 $56.75 per barrel, up 25 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $60.44 per barrel, up 37 cents from the previous week.

Reference Links


  • Crude Oil: 23.63   (-2.45).
  • Nymex MTD AVG:  25.7657.
  • Natural Gas: 1.852   (+0.121).
  • Gasoline: 0.6482   (-0.0534).
  • Spreads: May/June   (-5.06)   June/July   (-3.15).
  • Plains WTI Posting: 20.25   (-2.50).
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