Cleveland Verdin
May 26, 2008
Dr. Charles "Chuck" Binford
May 28, 2008The number of rigs actively exploring for oil and natural gas in the United States rose by 27 last week to 1,889.
Of the rigs running nationwide, 1,493 were exploring for natural gas and 386 for oil, Houston-based Baker Hughes Inc. reported Friday. Ten were listed as miscellaneous.
A year ago, the rig count stood at 1,760.
Of the major oil- and gas-producing states, Texas gained 33 rigs, and California and Oklahoma each gained two. Wyoming and Colorado each lost three. Alaska, Louisiana and New Mexico 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.
