Arthur Porche, Sr.
September 17, 2007
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September 19, 2007(AP) The number of rigs actively exploring for oil and natural gas in the United States dropped by 27 last week to 1,787.
Of the rigs running nationwide, 1,483 were exploring for natural gas and 298 for oil,
Houston-based Baker Hughes Inc. reported Friday. Six were listed as miscellaneous.
A year ago, the rig count stood at 1,737.
Of the major oil- and gas-producing states, Alaska lost one rig, and Texas lost 26. Colorado gained 10, Oklahoma gained 4, New Mexico lost four and Wyoming lost three. Louisiana’s count remained the same.
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.
