Permian Basin adds rigs: up 11 to 259 Oil jump likely caused recent rig adds 50-100+ more US rigs may start up in H2 The US oil and gas rig count jumped 24 to 604 in the week ending July 23 Enverus said, as early second-quarter earnings calls from oil services framed a picture of an upturning oil industry, slightly looser 2022 upstream capital budgets and more activity to come. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Permian Basin accounted for nearly half the additions, leapfrogging 11 week on week to 259 rigs. The West Texas/Southeast New Mexico basin accounts for about 4.5 million b/d of oil production and nearly 18 Bcf/d of gas output. Analysts believe WTI oil prices at $70/b-plus since early June no doubt have helped push up the rig count, although experts always caution week-to-week gains […]