US rig count drops 11 to 1,924

[July 28, 2012]  HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the U.S. fell by 11 this week to 1,924 from the previous week.

Houston-based oilfield services company Baker Hughes Inc. reported Friday that 1,416 rigs were exploring for oil and 505 were searching for gas. Three were listed as miscellaneous. A year ago, Baker Hughes listed 1,908 rigs.

Of the major oil- and gas-producing states, Texas and Wyoming each gained four rigs, California two and Louisiana one.

Oklahoma dropped nine rigs, and North Dakota lost five. New Mexico decreased by three and Alaska was down by two.

Arkansas, Colorado, Pennsylvania and West Virginia were unchanged.

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

[Associated Press]

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