Weekly US oil, gas rig count up by 12 to 1,986

(May 18th, 2012 @ 11:19am)

HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the U.S. is up 12 this week to 1,986.

Houston-based oilfield services company Baker Hughes Inc. reported Friday that 1,382 rigs were exploring for oil and 600 were looking for gas. Four were listed as miscellaneous. A year ago this week, Baker Hughes reported 1,830 rigs.

Of the major oil- and gas-producing states, New Mexico gained three rigs; California and West Virginia each gained two; and Alaska, Colorado and North Dakota were up one apiece.

Pennsylvania declined by four rigs and Arkansas by one.

Louisiana, Oklahoma, Texas and Wyoming were unchanged.

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


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Last 2 Comments

  • Reply Abuse Vote
    In 1981
    Dave D
    There was 780 rigs running out of Kansas alone. When we moved to Arizona in 1989...there was seven.
  • Reply Abuse Vote
    We need more American oil rigs
    Jshope
    We need to be energy independent, and produce our own revenues. Demand may be down, but prices are still way up.
  • Read More Comments