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US oil and natural gas rig count drops by 34 to 954

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices.

Houston-based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Three were listed as miscellaneous. A year ago, 1,831 rigs were active.

Among major oil- and gas-producing states, Texas plummeted by 15 rigs; Oklahoma was down six; North Dakota lost five; Wyoming was down four; and California, Kansas and Pennsylvania each dropped two. Alaska, Arkansas, Ohio and Utah declined by one each.

Louisiana rose by 5 while New Mexico gained two. Colorado and West Virginia were unchanged.

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

In related news, US oil and natural gas rig count drops by 40 to 988.

This article was written by The Associated Press from The Associated Press and was legally licensed through the NewsCred publisher network.

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