The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 341 rigs active in the region. A year ago, 349 rigs were active in the region.
Nationally, the oil and gas rig count is down eight from last week at 674 rigs. A year ago, 750 rigs were active. The count shows that 545 rigs sought oil, down one from the previous week, and 124 explored for natural gas, down six 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 $67.12 per barrel, up $1.48 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $70.64 per barrel, up $1.48 from the previous week.
