Commodities
Permian Basin Rig Count Rises Amid Sliding Prices
The Permian Basin saw an increase in oil and gas rigs this week, according to Baker Hughes. The regional rig count rose by two to reach 260 active rigs. This is up from the same time last year when there were also 259 rigs in operation.
Nationally, the total oil and gas rig count has increased to 588 rigs, a rise of one from last week's numbers. A year ago, there were only 540 rigs operating across the country.
The breakdown shows that 451 rigs are specifically searching for oil, while 127 are focused on natural gas exploration. The number of miscellaneous rigs remains at 10.