The United States had 1,075 drilling rigs in operation last week, which was the same as the week before. Texas had 532 of those rigs in operation.
The Texas Railroad Commission issued 389 drilling permits last week, which brought the 10-week rolling average to 269.
Natural gas prices averaged $3.00 per mnbtu and average WTI prices jumped up $4.33 to $50.96 per barrel as oversupply concerns are beginning to fade.
This jump has had little effect on gasoline prices as the average gallon of gasoline in Texas costs $1.92 last week, while the U.S. averaged $2.23 per gallon.