The rig count in the Permian Basin was up one this week, the latest count Friday by Baker Hughes shows, with 310 rigs active in the region. A year ago, 211 rigs were active in the region.
Nationally, the oil and gas rig count is unchanged from last week at 650 rigs. A year ago, 403 rigs were active. The count shows that 519 rigs sought oil, down three from the previous week, and 130 explored for natural gas, up three 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 $112.16 per barrel, up $24.09 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $115.68 per barrel, up $24.09 from the previous week.
