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Wednesday, July 17, 2019

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US oil and natural gas rig count drops by 27 to 905

US oil and natural gas rig count drops by 27 to 905

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 27 this week to 905 amid depressed oil prices.

Houston-based Baker Hughes said Friday that 679 rigs were seeking oil and 222 explored for natural gas. Four were listed as miscellaneous. A year ago, 1,854 rigs were active.

Among major oil- and gas-producing states, Texas lost 13 rigs; Oklahoma lost seven; New Mexico and Pennsylvania were each down two; and Alaska, Arkansas, Kansas and Louisiana were each down one.

North Dakota and Wyoming each gained one rig. California, Colorado, Ohio, Utah and West Virginia were unchanged.

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

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