Permian now numbers 320 rigs, up 4 Basin is still 100-plus off pre-pandemic highs Inflation bites into drilling, completion budgets The US oil and gas rig count grew four in the week ending March 2, energy analytics and software company Enverus said, as Permian rigs continued to tick up amid oil prices that have risen 45% since the start of 2022. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Permian Basin of West Texas/southeast New Mexico rose by four rigs to 320, a level not seen since early April 2020 when rig counts were plummeting as both oil demand and crude prices were in free-fall from the coronavirus pandemic. The Permian still remains more than 100 rigs short of the nearly 430 then working in domestic basins pre-pandemic. The play comprises the largest US oil basin with about 5.1 million b/d of crude […]