The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 349 rigs active in the region. A year ago, 237 rigs were active in the region.
Nationally, the oil and gas rig count is down three from last week at 750 rigs. A year ago, 475 rigs were active. The count shows that 595 rigs sought oil, up one from the previous week, and 153 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 August of 2020 at 244.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $104.91 per barrel, up 81 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $108.43 per barrel, up 81 cents from the previous week.
