The rig count in the Permian Basin was down one this week, the latest count Friday by Baker Hughes shows, with 317 rigs active in the region. A year ago, 361 rigs were active in the region.
Nationally, the oil and gas rig count is down six from last week at 613 rigs. A year ago, 755 rigs were active. The count shows that 506 rigs sought oil, down five from the previous week, and 105 explored for natural gas, down one from the previous week. The count also shows two miscellaneous rigs, unchanged 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 $80.33 per barrel, up 71 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $83.85 per barrel, up 71 cents from the previous week.
