US rig count increases by 1 to 1,586
By APFriday, July 30, 2010
US rig count increases by 1
HOUSTON — The number of rigs actively exploring for oil and natural gas in the U.S. increased by one this week to 1,586.
Houston-based Baker Hughes Inc. said Friday that 972 rigs were exploring for natural gas and 603 for oil. Eleven were listed as miscellaneous. A year ago this week, the rig count stood at 948.
Of the major oil- and gas-producing states, Louisiana and Wyoming each gained three rigs and Arkansas, California and North Dakota each gained two. Colorado and Texas each gained one rig. Oklahoma lost nine rigs, and New Mexico and West Virginia each lost two. Pennsylvania and Alaska remain 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.
