U.S. weekly oil and gas rig count down by 2

The number of rigs actively exploring for oil and natural gas in the United States dropped by two last week to 1,771.

Of the rigs running nationwide, 1,495 were exploring for natural gas and 271 for oil, Houston-based Baker Hughes Inc. reported Friday. Five were listed as miscellaneous.

A year ago, the rig count stood at 1,669.

Of the major oil- and gas-producing states, Louisiana gained nine rigs, New Mexico gained four, and California gained one. Texas lost 12 rigs, Wyoming and Oklahoma each lost two and Alaska and Colorado each lost one.

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.