Weekly US oil and gas rig count up by 5

AP News
Posted: Nov 04, 2011 1:54 PM
Weekly US oil and gas rig count up by 5

The number of rigs actively exploring for oil and natural gas in the U.S. rose by five this week to 2,026.

Houston-based drilling product provider Baker Hughes Inc. reported Friday that 1,112 rigs were exploring for oil and 907 for natural gas. Seven were listed as miscellaneous. A year ago this week the rig count stood at 1,683.

Of the major oil- and gas-producing states, Louisiana gained four rigs, Oklahoma, Texas and Wyoming each gained two and Alaska and Colorado each gained one.

California and Pennsylvania each lost four rigs, Arkansas lost two and New Mexico lost one. North Dakota and West Virginia were unchanged.

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