US rig count down by 14 this week

Posted: Sunday, February 27, 2011

HOUSTON, Texas — The number of rigs actively exploring for oil and natural gas in the U.S. decreased by 14 this week to 1,699.

Houston-based Baker Hughes Inc. reported Friday that 906 rigs were exploring for gas and 783 for oil. Ten were listed as miscellaneous. A year ago, the count was 1,373.

Of the major oil- and gas-producing states, Louisiana gained one rig.

Texas declined by nine rigs, New Mexico lost three rigs and Alaska lost one rig. Arkansas, California, Colorado, North Dakota, Oklahoma, Pennsylvania, West Virginia and Wyoming were unchanged.

The rig count peaked at 4,530 in 1981, the height of the oil boom. The record low of 488 was in 1999.

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