ADVERTISEMENT

ADVERTISEMENT

US rig count increases by 3

HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the U.S. increased by 3 this week to 1,672. Houston-based Baker Hughes Inc. said Friday that 967 rigs were exploring for natural gas and 696 for oil. Nine were liste...

HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the U.S. increased by 3 this week to 1,672.

Houston-based Baker Hughes Inc. said Friday that 967 rigs were exploring for natural gas and 696 for oil. Nine were listed as miscellaneous. A year ago this week, the rig count stood at 1,069.

Of the major oil- and gas-producing states, Texas gained five rigs, Alaska gained two and California and Louisiana each gained one. Arkansas, New Mexico, Oklahoma and Wyoming each lost one, while Colorado lost two rigs. North Dakota, Pennsylvania and West Virginia remained unchanged.

The rig count tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted a record low of 488 in 1999

What To Read Next
Kevin and Lynette Thompson brought TNT Simmental Ranch to life in 1985. Now, their daughter, Shanon Erbele, and her husband, Gabriel, are taking over the reins, and their sale is for Feb. 10.
Even if it's not a lucrative venture, the hobby of raising rabbits continues at this farm near Sebeka, Minnesota.
Louis and Cyril Keller are the inventors of the Bobcat skid-steer loader and were selected as 2023 inductees into the National Inventors Hall of Fame.
Benson and Turner Foods will process cattle and hogs at Waubun, Minnesota, on the White Earth Reservation with the help of a USDA grant.