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. fell by 30 this week to 1,746.
The Houston-based company said in its weekly report on Friday that 1,324 rigs were actively exploring for oil and 418 for gas. Four were listed as miscellaneous. A year ago Baker Hughes counted 1,968 working rigs.
Of the major oil- and gas-producing states, only West Virginia posted a gain, up 1 rig. Texas dropped by 11, Pennsylvania six, Louisiana five, Oklahoma four, North Dakota and Wyoming three each, and Alaska and Colorado by one apiece. Arkansas, California, and New Mexico were unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.