HOUSTON (AP) — The number of rigs actively exploring for oil and natural gas in the U.S. dropped this week by 26 to 1,800.
Texas-based oilfield services company Baker Hughes Inc. reported Friday that 1,373 rigs were exploring for oil and 424 were searching for gas. Three were listed as miscellaneous. A year ago, Baker Hughes listed 2,026 rigs.
Of the major oil- and gas-producing states, Texas dropped 20 rigs, Colorado lost seven, North Dakota decreased by six, Alaska and California each lost two, while New Mexico decreased by one. Oklahoma added six rigs, while Arkansas, Louisiana, West Virginia and Wyoming each gained one. Pennsylvania remained unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 22nd, 2014 | John Ransom
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 20th, 2014 | John Ransom
In Other News: Feds Strike Again! Ebola Strategy Suspiciously Similar to ISIS Strategy | Michael Schaus