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U.S. rig count steady as oil prices rise

Posted: Friday, August 28, 2020 2:30 pm

U.S. rig count steady as oil prices rise

Odessa American

Odessa American

The rig count in the Permian Basin was down two this week, the latest count Friday by Baker Hughes shows, with 125 rigs active in the region. A year ago, 429 rigs were active in the region.

Nationally, the oil and gas rig count is unchanged from last week at 254 rigs. A year ago, 904 rigs were active. The count shows that 180 rigs sought oil, down three from the previous week, and 72 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 August of 2020 at 244.

The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $39.50 per barrel, up 75 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $42.97 per barrel, up 67 cents from the previous week.

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Friday, August 28, 2020 2:30 pm.

| Tags:

Drilling Rigs,

Baker Hughes,

Oil Platforms,

Petroleum Industry,


Oil Prices,

Oil And Gas Rig Count,

Natural Gas

Read More: U.S. rig count steady as oil prices rise

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