US Rig Count Down By 20 This Week
HOUSTON (AP) — The number of rigs actively exploring for oil and natural gas in the U.S. declined by 20 this week to 1,694.
Houston-based Baker Hughes Inc. said Thursday 919 rigs were exploring for gas and 765 for oil. Ten were listed as miscellaneous. A year ago, the count was 1,189.
Of the major oil- and gas-producing states, Louisiana and Wyoming each gained three rigs, Oklahoma was up two and New Mexico and North Dakota rose by one.
Texas decreased by 15, Colorado lost four and Alaska one. Arkansas, California, Pennsylvania and West Virginia were unchanged.
The rig count peaked at 4,530 in 1981, the height of the oil boom. The record low of 488 was in 1999. The weekly report, normally released Fridays, moved early because of New Year's.