The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 251 rigs active in the region. A year ago, 304 rigs were active in the region.
Nationally, the oil and gas rig count is up five from last week at 549 rigs. A year ago, 589 rigs were active. The count shows that 413 rigs sought oil, up six from the previous week, and 129 explored for natural gas, down one from the previous week. The count also shows seven 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 $56.56 per barrel, up $1.53 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $60.08 per barrel, up $1.53 from the previous week.
The post US rig count up five as prices climb appeared first on Odessa American.
