Permian Basin Oil Rigs Increase by 11

Texas had a total of 534 oil rigs working as of May 25, 2018, according to data released by Baker Hughes. The rig count jumped the highest in the Permian Basin, with an increase of 11. Elsewhere in Texas, the Barnett Shale (North Texas) and Eagle Ford Shale (South Texas) increased by 1 each. The rig count, however, is down in both the Barnett and Eagle Ford Shales on a year-over-year basis. Meanwhile, the Permian Basin’s rig count of 478 represents a 116-rig jump from the same time a year ago.

The U.S. added an additional 15 rigs nationwide.