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 seven this week to 1,762.
The Houston-based company said Friday in its weekly report that 1,402 rigs were exploring for oil and another 354 for gas. Six were listed as miscellaneous. A year ago there were 1,983 active rigs.
Of the major oil- and gas-producing states, Texas gained three rigs and Louisiana, Pennsylvania, and Wyoming were each up one.
Colorado and North Dakota each declined by five, Alaska fell by three, and Oklahoma one.
Arkansas, California, New Mexico, and West Virginia were unchanged.
The overall U.S. 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.