Increasing oil prices are leading to more drilling activity in several major plays in the US, including the prolific Permian basin of west Texas and south-eastern New Mexico.

According to a weekly rig count update from Cowen Equity Research, the US rig count increased by six week-over-week, with 10 new rigs being put to work in the Permian. The puts the total number of active rigs active in the Permian in Cowen’s estimate at 236.

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