Sept. 28–The rig count in the Permian Basin is down by two from the prior week, the latest count by Baker Hughes shows, with 486 rigs active in the region.
Nationally, the oil and gas rig count is up one at 1,054 rigs. A year ago, 940 rigs were active. The count shows that 863 rigs sought oil, down three from the previous week, and 189 explored for natural gas, up three from the previous week. The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $73.25 per barrel, up $2.47 from last Friday’s close. National benchmark West Texas Intermediate crude ended at $69.75 per barrel, up $2.50 from the previous week.
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