Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
HOUSTON (AP) -- Oilfield services company Baker Hughes (NYSE: BHI ) says the number of rigs actively exploring for oil and natural gas in the U.S. dropped by 12 this week to 1,749.
The Houston-based company said in its weekly report Friday that 1,316 rigs were exploring for oil and 429 for gas. Four were listed as miscellaneous. A year ago, Baker Hughes counted 2,008 working rigs.
Of the major oil- and gas-producing states, North Dakota gained five rigs, Pennsylvania increased by four, and Arkansas by two. Meanwhile, Texas declined by 11 rigs, Oklahoma three, New Mexico two, and Colorado, Louisiana, and Wyoming one each. California and West Virginia were unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.