Russell Guidry
January 1, 2008Kiger, Barrios to reign at Babylon VII
January 4, 2008(AP) – The number of rigs actively exploring for oil and natural gas in the United States fell by 15 Christmas week to 1,809.
Of the rigs running nationwide, 1,461 were exploring for natural gas and 343 for oil, Houston-based Baker Hughes Inc. reported. Five rigs were listed as miscellaneous.
A year ago, the rig count stood at 1,723.
Of the major oil and gas producing states, Texas gained nine rigs, and Oklahoma was unchanged. Colorado lost nine rigs, while New Mexico and Wyoming each lost five. California lost two, and Louisiana and Alaska 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.
