Permian Basin adds eight rigs

Permian Basin oil companies added eight drilling rigs in the week ending Thursday, according to the latest count by Baker Hughes. The gains meant 339 rigs were active in the region. All drill primarily for oil.
Nationally, the oil and gas rig count climbed by eight to a total 847 rigs. A year ago, 440 rigs were active. The count shows that 683 rigs sought oil and 162 explored for natural gas this week. Two were listed as miscellaneous. New Mexico added seven rigs, Oklahoma gained three, Texas increased by two, and California, North Dakota and Ohio each gained one.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $49.75 per barrel. National benchmark West Texas Intermediate crude ended at $53.18 per barrel.
ON THE NET: Baker Hughes.