Number of Working Rigs Down
The number of rigs actively exploring for oil and natural gas in the United States fell this week by 12 from last week.
Of the 1,877 rigs running nationwide, 1,479 explore for natural gas and 390 for oil, according to Baker Hughes Inc., which tracks rig operations worldwide. Eight were listed as miscellaneous.
A year ago, the rig count stood at 1,774.
Of the major oil- and gas-producing states, Texas lost 14 rigs, Colorado nine, New Mexico two, and California and Alaska each lost one. Louisiana added three rigs, Oklahoma added one and Wyoming was unchanged.
Baker Hughes has tracked rig counts since 1944. The U.S. tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.
