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Weekly U.S. Oil and Gas Rig Count Up 5

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[December 08, 2007]  HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the United States rose by five this week to 1,828.

Of the rigs running nationwide, 1,482 were exploring for natural gas and 340 for oil, Houston-based Baker Hughes Inc. reported Friday. Six were listed as miscellaneous.

A year ago, the rig count stood at 1,724.

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

Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom.

The industry posted several record lows in 1999, bottoming out at 488 rigs.

[Associated Press]

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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