The rig count in the Permian Basin was down by three this week, the latest count Friday by Baker Hughes shows, with 460 rigs active in the region. A year ago, 452 rigs were active in the region.
Nationally, the oil and gas rig count is down 21 from last week at 991 rigs. A year ago, 1021 rigs were active. The count shows that 805 rigs sought oil, down twenty from the previous week, and 186 explored for natural gas, down 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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Related stocks: Keppel Corp, Sembcorp Marine & Cosco
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