Rig Count Down One As Oil Prices Decrease: Report

August 3, 2019

The rig count in the Permian Basin was down by one this week, the latest count Friday by Baker Hughes shows, with 442 rigs active in the region. A year ago, 480 rigs were active in the region.

Nationally, the oil and gas rig count is down four from last week at 942 rigs. A year ago, 1044 rigs were active. The count shows that 770 rigs sought oil, down six from the previous week, and 171 explored for natural gas, up two 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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