Weekly US oil and gas rig count drops by 10

AP News
Posted: Nov 11, 2011 2:22 PM
Weekly US oil and gas rig count drops by 10

The number of rigs actively exploring for oil and natural gas in the U.S. dropped by 10 this week to 2,016.

Houston-based drilling product provider Baker Hughes Inc. reported Friday that 1,133 rigs were exploring for oil and 877 for natural gas. Six were listed as miscellaneous. A year ago this week the rig count stood at 1,685.

Of the major oil- and gas-producing states only Louisiana and Oklahoma saw their rig totals rise, with Louisiana gaining six and Oklahoma one.

Wyoming dropped by six, while North Dakota decreased by four. Pennsylvania and Texas each lost three, and Alaska and Colorado lost one each. Arkansas, California, New Mexico and West Virginia remained unchanged.

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