U.S. Rig Count Drops 5 This Week to 1,752

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 five this week to 1,752.

The Houston-based company said in its weekly report Friday that 1,341 rigs were actively exploring for oil and 407 for gas. Four were listed as miscellaneous. A year ago, Baker Hughes counted 1,973 working rigs.

Of the major oil- and gas-producing states, California gained five rigs, Alaska, Colorado, and Louisiana each rose by two, and New Mexico and North Dakota saw an increase of one each. Oklahoma, meanwhile, lost seven rigs, Texas dropped six, and Arkansas and Pennsylvania each decreased by two. West Virginia and Wyoming remained unchanged.

The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.


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