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US oil and natural gas rig count drops by 11 to 894

2 years 2 weeks 12 hours ago May 08, 2015 May 8, 2015 Friday, May 08 2015 May 08, 2015 12:54 PM in News
Source: Associated Press

HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 11 this week to 894.

Houston-based Baker Hughes said Friday that 668 rigs were seeking oil and 221 explored for natural gas. Five were listed as miscellaneous. A year ago, with oil prices nearly double the current price, 1,855 rigs were active.

Among major oil- and gas-producing states, Oklahoma lost six rigs, Louisiana was down three, New Mexico declined by two and Arkansas, California, Kansas, Ohio, Texas, Utah and West Virginia were off one each.

Colorado gained two rigs and North Dakota increased by one. Alaska, Pennsylvania and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

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