US oil and gas rig count down 10 this week

AP News
Posted: Sep 09, 2011 4:13 PM
US oil and gas rig count down 10 this week

The number of rigs actively exploring for oil and natural gas in the U.S. decreased by 10 this week to 1,958, led by a big drop in Texas.

Houston-based drilling product provider Baker Hughes Inc. reported Friday that 1,057 rigs were exploring for oil and 892 for natural gas. Nine were listed as miscellaneous. A year ago this week the rig count stood at 1,654.

Of the major oil- and gas-producing states, Texas lost 14 rigs, and Louisiana dropped two. New Mexico and Wyoming fell by one each.

Oklahoma gained eight rigs, while North Dakota and Colorado went up two apiece. Alaska and West Virginia each gained one.

Arkansas, California and Pennsylvania were unchanged.

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