Permian Basin adds seven rigs

Permian Basin oil companies added seven drilling rigs in the week ending Friday, according to the latest count by Baker Hughes. The gains meant 315 rigs were active in the region. All drill primarily for oil.
Nationally, the oil and gas rig count leaped by 20 to a total 809 rigs. A year ago, 464 rigs were active. The count shows that 652 rigs sought oil and 155 explored for natural gas this week. Two were listed as miscellaneous.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $44.50 per barrel. National benchmark West Texas Intermediate crude ended at $47.97 per barrel.
ON THE NET: Baker Hughes.