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Wednesday, April 17, 2019

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US rig count declines by 8 this week to 928

US rig count declines by 8 this week to 928

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. declined by eight this week to 928.

That's up from the 539 rigs that were active a year ago.

Houston oilfield services company Baker Hughes said Friday that 743 rigs sought oil and 185 explored for natural gas this week.

Among major oil- and gas-producing states, Alaska, Kansas, North Dakota and Pennsylvania each gained one rig.

Texas lost four rigs, Oklahoma declined by three, California lost two and Louisiana and West Virginia each declined by one.

Arkansas, Colorado, New Mexico, Ohio, 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.