Business

Sep 21, 2012 6:06 PM by AP posted by Juice Godfrey

US drops 5 to 1,859 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 five to 1,859.

Texas-based oilfield services company Baker Hughes Inc. reported Friday that 1,402 rigs were exploring for oil and 454 were searching for gas. Three were listed as miscellaneous. A year ago, Baker Hughes listed 1,991 rigs.

Of the major oil- and gas-producing states, California lost five rigs and Louisiana dropped three. Colorado declined by two and Arkansas, Oklahoma and Texas each lost one.

Pennsylvania added four rigs, while Alaska and West Virginia each gained one. New Mexico, North Dakota and Wyoming were unchanged.

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

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