indiabull
27-11-2007, 06:06 PM
The number of rigs actively exploring for oil and natural gas in the United States dropped by 24 this week to 1,773.
Of the rigs running nationwide, 1,424 were exploring for natural gas and 343 for oil, Houston-based Baker Hughes Inc. (nyse: BHI - news - people ) reported Friday. Six were listed as miscellaneous.
A year ago, the rig count stood at 1,697.
Of the major oil- and gas-producing states, Oklahoma gained three rigs, and Texas and Alaska each added two. Wyoming lost eight, and California and Colorado each lost one. Louisiana and New Mexico were unchanged.
Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.
Of the rigs running nationwide, 1,424 were exploring for natural gas and 343 for oil, Houston-based Baker Hughes Inc. (nyse: BHI - news - people ) reported Friday. Six were listed as miscellaneous.
A year ago, the rig count stood at 1,697.
Of the major oil- and gas-producing states, Oklahoma gained three rigs, and Texas and Alaska each added two. Wyoming lost eight, and California and Colorado each lost one. Louisiana and New Mexico were unchanged.
Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.