U.S. weekly oil and gas rig count up 21

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August 28, 2007
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August 30, 2007

(AP) The number of rigs actively exploring for oil and natural gas in the United States rose by 21 last week to 1,816.

Of the rigs running nationwide, 1,494 were exploring for natural gas and 316 for oil, Houston-based Baker Hughes Inc. reported Friday. Six were listed as miscellaneous.

A year ago, the rig count stood at 1,756.

Of the major oil- and gas-producing states, Texas gained 14 rigs, Wyoming picked up five, Oklahoma gained four, New Mexico added three and Colorado added one. Louisiana lost five rigs and California lost 1.

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.