U.S. weekly oil and gas rig count down by 14

The number of rigs actively exploring for oil and natural gas in the United States dropped by 14 last week to 1,760.

Of the rigs running nationwide, 1,465 were exploring for natural gas and 291 for oil, Houston-based Baker Hughes Inc. reported Friday. Four were listed as miscellaneous.

A year ago, the rig count stood at 1,661.

Of the major oil- and gas-producing states, Alaska and California gained one rig each. New Mexico and Oklahoma lost six each, Colorado and Louisiana lost four each, and Texas lost three. Wyoming remained 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.