The rig count in the Permian Basin was down four this week, the latest count Friday by Baker Hughes shows, with 342 rigs active in the region. A year ago, 345 rigs were active in the region.
Nationally, the oil and gas rig count is down eight from last week at 687 rigs. A year ago, 740 rigs were active. The count shows that 552 rigs sought oil, down four from the previous week, and 130 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 $68.26 per barrel, up $1.61 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $71.78 per barrel, up $1.61 from the previous week.
