The number of rigs actively exploring for oil and natural gas in the United States dropped by 46 this week to 1,039, as weak energy demand continues to hamper oilfield activity.
Of the rigs running nationwide, 810 were exploring for natural gas and 217 for oil, Houston-based Baker Hughes Inc. reported Friday. A total of 12 were listed as miscellaneous.
A year ago, the rig count stood at 1,808. The U.S. count is down nearly 50 percent since the end of August. Oil prices peaked at almost $150 a barrel in July before plunging. Light, sweet crude for April delivery fell $2.31 to $52.05 in afternoon trading Friday on the New York Mercantile Exchange.
Of the major oil- and gas-producing states, Texas lost 17 rigs, Oklahoma lost six, Louisiana lost four and North Dakota and Wyoming each lost two. New Mexico, Colorado and Alaska each lost one. California added three rigs, and Arkansas was 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.
source: yahoo
Of the rigs running nationwide, 810 were exploring for natural gas and 217 for oil, Houston-based Baker Hughes Inc. reported Friday. A total of 12 were listed as miscellaneous.
A year ago, the rig count stood at 1,808. The U.S. count is down nearly 50 percent since the end of August. Oil prices peaked at almost $150 a barrel in July before plunging. Light, sweet crude for April delivery fell $2.31 to $52.05 in afternoon trading Friday on the New York Mercantile Exchange.
Of the major oil- and gas-producing states, Texas lost 17 rigs, Oklahoma lost six, Louisiana lost four and North Dakota and Wyoming each lost two. New Mexico, Colorado and Alaska each lost one. California added three rigs, and Arkansas was 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.
source: yahoo
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