The US rig count dropped by 25 on the week to 1,183 for the period ended November 28, posting small reductions in most of the eight large domestic oil and natural gas basins, but with the Permian Basin by far the biggest loser, S&P Global Platts Analytics said Thursday.

The Permian, located in West Texas and southeast New Mexico, fell by 12 rigs to 482, reversing most of the gains during the last month, according to Platts weekly rig count released each Thursday. Last week’s numbers came out Monday to accommodate the US Thanksgiving holiday. The rig count has spent most of the second half of 2018 dangling just below 1,200 […]