US oil and gas rig count down 7 this week

AP News
Posted: Sep 02, 2011 3:51 PM
US oil and gas rig count down 7 this week

The number of rigs actively exploring for oil and natural gas in the U.S. decreased by seven this week to 1,968, led by a big drop in Louisiana.

Houston-based drilling product provider Baker Hughes Inc. reported Friday that 1,064 rigs were exploring for oil and 895 for natural gas. Nine were listed as miscellaneous. A year ago this week the rig count stood at 1,653.

Of the major oil- and gas-producing states, Louisiana lost six rigs, and New Mexico dropped two. California and Colorado were down one apiece.

Texas (two) and North Dakota (one) were the only states to gain rigs.

Alaska, Arkansas, Oklahoma, Pennsylvania, West Virginia and Wyoming were unchanged.

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