The rig count in the Permian Basin was down three this week, the latest count Friday by Baker Hughes shows, with 353 rigs active in the region. A year ago, 335 rigs were active in the region.
Nationally, the oil and gas rig count is down 18 from last week at 731 rigs. A year ago, 714 rigs were active. The count shows that 586 rigs sought oil, down two from the previous week, and 141 explored for natural gas, down 16 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 $66.52 per barrel, down $1.30 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $70.04 per barrel, down $1.30 from the previous week.
