US rig count slips by 1

AP News
Posted: Oct 22, 2010 2:05 PM
US rig count slips by 1

The number of rigs actively exploring for oil and natural gas in the U.S. decreased by one this week to 1,669.

Baker Hughes Inc. said Friday that 965 rigs were exploring for natural gas and 695 for oil. Nine were listed as miscellaneous. A year ago this week, the rig count stood at 1,048.

Of the major oil- and gas-producing states, Louisiana gained three rigs, Oklahoma, Pennsylvania and West Virginia each gained two and California gained one rig. Texas lost four rigs, Wyoming and Alaska each lost two rigs and Arkansas lost one rig. Colorado, New Mexico and North Dakota remained unchanged.

The rig count tally peaked at 4,530 in 1981, and posted a record low of 488 in 1999.

Baker Hughes is based in Houston.