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Weekly US oil and gas rig count drops by 1

4 years ago November 24, 2011 Nov 24, 2011 Thursday, November 24 2011 Thursday, November 24, 2011 2:10:11 PM CST in News
Source: Associated Press

HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the U.S. dropped by one this week to 2,000.

Houston-based drilling product provider Baker Hughes Inc. reported Wednesday 1,130 rigs were exploring for oil and 865 for natural gas. Five were listed as miscellaneous.

A year ago this week the rig count stood at 1,687.

Of the major oil- and gas-producing states, Oklahoma gained five rigs, California and Pennsylvania rose by four each, North Dakota was up two and Colorado one.

Texas declined by eight, West Virginia two and Louisiana, New Mexico and Wyoming one apiece. Alaska and Arkansas were unchanged.

The rig count peaked at 4,530 in 1981. A low of 488 was recorded in 1999.

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