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Wednesday, November 14, 2018



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US rig count up 7 this week to 665; New Mexico adds 3

US rig count up 7 this week to 665; New Mexico adds 3

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by seven this week to 665.

A year ago, 664 rigs were active. Depressed energy prices have curtailed exploration, although the rig count has been rebounding in recent weeks.

Houston oilfield services company Baker Hughes Inc. said Friday that 529 rigs sought oil and 135 explored for natural gas this week. One was listed as miscellaneous.

New Mexico and Texas each gained three rigs, Louisiana added two and Colorado, Ohio and Pennsylvania each added one.

Wyoming declined by two rigs and Alaska lost one.

Arkansas, California, Kansas, North Dakota, Oklahoma, Utah and West Virginia were all unchanged.

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

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