The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 237 rigs active in the region. A year ago, 125 rigs were active in the region.
Nationally, the oil and gas rig count is up four from last week at 479 rigs. A year ago, 258 rigs were active. The count shows that 378 rigs sought oil, up two from the previous week, and 101 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 $71.04 per barrel, down 60 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $74.56 per barrel, down 60 cents from the previous week.