The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 335 rigs active in the region. A year ago, 229 rigs were active in the region.
Nationally, the oil and gas rig count is up seven from last week at 705 rigs. A year ago, 448 rigs were active. The count shows that 557 rigs sought oil, up five from the previous week, and 146 explored for natural gas, up two 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 $106.25 per barrel, up $5.08 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $109.77 per barrel, up $5.08 from the previous week.
