The rig count in the Permian Basin fell by seven this week, the latest count Friday by Baker Hughes shows, with 466 rigs active in the region. A year ago, 434 rigs were active in the region.
Nationally, the oil and gas rig count is down nine from last week at 1,038 rigs. A year ago, 981 rigs were active. The count shows that 843 rigs sought oil, down ten from the previous week, and 195 explored for natural gas, up one from the previous week.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
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