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Weekly US oil, gas rig count down by 7 to 1,959

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Weekly US oil, gas rig count down by 7 to 1,959
Submitted by Fox First at Ten on June 29th

HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the U.S. is down by seven this week to 1,959.
Houston-based oilfield services company Baker Hughes Inc. reported Friday that 1,421 rigs were exploring for oil and 534 for gas. Four were listed as miscellaneous. A year ago, Baker Hughes reported 1,886 rigs.
Of the major oil- and gas-producing states, Oklahoma gained ten rigs, Colorado added two and Alaska and Wyoming each added one.
Texas lost nine rigs, North Dakota lost eight, Pennsylvania lost five and California lost one.
Arkansas, Louisiana, New Mexico and West Virginia were unchanged.
The rig count peaked at 4,530 in 1981 and bottomed out at 488 in 1999.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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