Rigs targeting oil in the U.S. surged to a record this week as producers accelerated drilling in some of the nation’s biggest crude plays, from North Dakota ’s Bakken formation to the Permian Basin of Texas and New Mexico . Oil rigs rose by eight to 1,592, the highest count since Baker Hughes Inc. (BHI) separated its oil and gas rig counts in 1987, data posted on the company’s website show. The Permian Basin of Texas and New Mexico added the most, rising by four to 561. North Dakota’s Williston Basin, home of the Bakken, climbed to the highest level since January 2013. The total energy rig count has almost doubled from five years ago as producers use horizontal drilling and hydraulic fracturing to draw record volumes of oil and gas out of shale formations across the middle of the country. The boom has raised domestic crude production to […]