Houston gains 8 active oil rigs

October 23, 2009 2:33:49 PM PDT
The number of rigs actively exploring for oil and natural gas in the U.S. this week rose by eight this week to 1,048.Houston-based Baker Hughes Inc. said Friday that 725 rigs were exploring for natural gas and 312 for oil. Eleven were listed as miscellaneous. A year ago this week, the rig count stood at 1,964.

Of the major oil- and gas-producing states, Texas gained four rigs, Louisiana gained three, Wyoming gained two, and California gained one. North Dakota lost two rigs, while Alaska, New Mexico and Oklahoma lost one each. The numbers of rigs in Arkansas and Colorado were unchanged.

The rig count tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted a record low of 488 in 1999.

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