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Sunday, November 18, 2018

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Texas loses 3 rigs as US rig count decreases to 993

Texas loses 3 rigs as US rig count decreases to 993

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. decreased by two this week to 993.

That exceeds the 824 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Thursday that 797 rigs drilled for oil this week and 194 for gas. Two were listed as miscellaneous.

Among major oil- and gas-producing states, Pennsylvania increased by two rigs and Louisiana and Oklahoma each gained one.

Texas lost three rigs and New Mexico, Ohio and West Virginia each decreased by one.

Alaska, Arkansas, California, Colorado, North Dakota, Utah and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.