Please ensure Javascript is enabled for purposes of website accessibility

U.S. Rig Count Drops by 13 to 1,758

By Associated Press - Apr 19, 2013 at 3:11PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

1,371 rigs were exploring for oil and 379 for gas.

HOUSTON (AP) -- Oilfield services company Baker Hughes (BHI) says the number of rigs actively exploring for oil and natural gas in the U.S. fell by 13 this week to 1,758.

The Houston-based company said in its weekly report Friday that 1,371 rigs were exploring for oil and 379 for gas. Eight were listed as miscellaneous. A year ago, there were 1,972 rigs.

Of the major oil- and gas-producing states, California and Colorado each gained two rigs while Louisiana and Pennsylvania were up one apiece.

Texas led this week's decline, down 11 rigs. Oklahoma fell by five and Alaska, New Mexico, North Dakota and Wyoming were off two each. Arkansas and West Virginia were unchanged.

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

link

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Baker Hughes Incorporated Stock Quote
Baker Hughes Incorporated
BHI

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
330%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/23/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.