Commodities
Permian Drillers Boost Oil Rigs in Latest Bid for Sustaining Growth
This article is for subscribers only.
Drillers in the US shale patch are again trying to rebound from slumping activity, this time expanding the oil-rig count by the widest margin in nine months.
The number of US rigs drilling for oil rose by 6 to 500, the biggest weekly jump since late February, according to data released by Baker Hughes Co. on Friday. The boost was led by explorers in the Permian Basin of West Texas and New Mexico, where four oil rigs were added. That’s the biggest increase in the region since mid-March.