Commodities
Permian Basin Rig Count Down One as Prices Rise
The Permian Basin rig count decreased by one this week, according to Baker Hughes' latest count. The region now has 258 active rigs, down from 260 a year ago. Nationally, the oil and gas rig count is also down one from last week at 587 rigs, with 450 rigs seeking oil and 127 exploring for natural gas.
The regional benchmark Plains-West Texas Intermediate Posting price rose to $85.79 per barrel on Friday, up $6.82 from the previous week's close. The national benchmark West Texas Intermediate crude ended at $89.31 per barrel, also increasing by $6.82 from last week.