Business

Oct 5, 2012 3:42 PM by AP posted by Juice Godfrey

US drops 11 to 1,837 rigs exploring for oil, gas

HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the U.S. dropped this week by 11 to 1,837.

Texas-based oilfield services company Baker Hughes Inc. reported Friday that 1,398 rigs were exploring for oil and 437 were searching for gas. Two were listed as miscellaneous. A year ago, Baker Hughes listed 2,012 rigs.

Of the major oil- and gas-producing states, Texas lost 10 rigs, Louisiana and North Dakota each dropped by three and Alaska and Oklahoma were down two apiece.

Pennsylvania added three rigs and California two.

Arkansas, Colorado, New Mexico, West Virginia and Wyoming were unchanged.

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

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