Weekly US oil, gas rig count down 16 to 1,973

[March 10, 2012]  HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the U.S. is down by 16 this week to 1,973.

The Houston-based oilfield services company Baker Hughes Inc. reported Friday that 1,296 rigs were exploring for oil and 670 for natural gas. Seven were listed as miscellaneous. A year ago this week Baker Hughes reported 1,715 active rigs.

Of the major oil- and gas-producing states, Texas and North Dakota gained three. Louisiana picked up one.

Oklahoma lost six rigs, and Pennsylvania dropped by four. Alaska lost three rigs, and Colorado fell by two. New Mexico, West Virginia and Wyoming lost one apiece.

Arkansas and California were unchanged.

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

[Associated Press]

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