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US oil and gas rig count rises by 8 to 1,921


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AP News
Posted Jul 02, 2008 @ 04:33 PM

HOUSTON (AP) —

The number of rigs actively exploring for oil and natural gas in the United States rose by eight this week to 1,921.

Of the rigs running nationwide, 1,539 were exploring for natural gas and 373 for oil, Houston-based Baker Hughes Inc. reported Wednesday. Nine were listed as miscellaneous.

Baker Hughes released the rig count two days earlier than usual because of the Fourth of July holiday Friday.

A year ago, the rig count stood at 1,752.

Of the major oil- and gas-producing states, Oklahoma gained nine rigs, Texas added eight and New Mexico gained one. Louisiana, Colorado and Alaska lost two each; California and Wyoming were unchanged.

Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981. The industry posted several record lows in 1999, bottoming out at 488.

 

Copyright 2008 The Associated Press.

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