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Aug. 23—The rig count in the Permian Basin was up three this week, the latest count Friday by Baker Hughes shows, with 306 rigs active in the region. A year ago, 320 rigs were active in the region.
Jan. 19—The rig count in the Permian Basin was down two this week, the latest count Friday by Baker Hughes shows, with 307 rigs active in the region. A year ago, 354 rigs were active in the region.
The productive area of the oil field covers approximately 26,400 acres (107 km 2), or over 41 square miles (110 km 2), in a roughly circular area in far eastern Pecos County, south, southwest and west of the town of Iraan. Texas State Highway 349 borders the field on the east, and U.S. Highway 190/193 borders the field on the north, passing ...
Nov. 24—The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 311 rigs active in the region. A year ago, 352 rigs were active in the region.
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX) .
The Permian Basin covers more than 86,000 square miles (220,000 km 2), [1] and extends across an area approximately 250 miles (400 km) wide and 300 miles (480 km) long. [2] The Texas cities of Midland, Odessa and San Angelo serve as headquarters for some of the oil production activities in the basin.
In its weekly release, Baker Hughes Company (BKR) reports that the total U.S. rig count is up in six of the prior seven weeks. Permian Oil Drilling Rig Count Rises in 7 of Prior 11 Weeks Skip to ...
The peak production value reported by the EIA is about 9% larger. The EIA also reports that the Bakken rig count dropped about 60% over the year ending in October 2015 in response to the collapsing price of oil, while the new-well (initial) oil production per rig increased by 40%, both apparently plateauing at that time. [55]