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Sunday, July 21, 2019

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US rig count declines by 8 this week to 787

US rig count declines by 8 this week to 787

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week declined by eight to 787.

Houston's Baker Hughes said Friday that 595 rigs were seeking oil and 192 explored for natural gas. A year ago, with oil prices about double the prices now, 1,918 rigs were active.

Among major oil- and gas-producing states, New Mexico lost five rigs, Oklahoma and Texas each declined by two and Colorado and North Dakota each lost one.

Louisiana gained three rigs, Wyoming gained two and California gained one.

Alaska, Arkansas, Kansas, Ohio, Pennsylvania, 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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