The number of rigs actively exploring for oil and natural gas in the U.S. this week has risen by 24 this week to 1,137.
Houston-based Baker Hughes Inc. said Wednesday that 748 rigs were exploring for natural gas and 379 for oil. Ten were listed as miscellaneous. A year ago this week, the rig count stood at 1,866.
Of the major oil- and gas-producing states, Texas gained 11 rigs, Colorado gained ten, Oklahoma gained seven, and Arkansas, New Mexico and North Dakota each gained one. Louisiana lost three rigs, and Alaska and Wyoming each lost one. The numbers of rigs in California were unchanged.
The rig count tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted a record low of 488 in 1999.