Friday, March 21, 2008

Active Oil and Gas Rig Count Drops by 8 in U.S.

Rigs in the U.S. currently active in exploration of oil and natural gas in the U.S. has declined by eight this week; now numbering 1,784.

Citing Baker Hughes Inc., the Houston Chronicle said the lowest level rigs have dropped to in the U.S. was 488 in 1999, whereas the high was 4,530 in 1981.

Breaking it down, oil rigs now stand at 341 in the U.S., while natural gas exploration rigs stand at 1,433. Ten of the rigs were listed as miscellaneous.

Rigs in Lousiana fell the most, with the state dropping four.

Last year the total number of rigs numbered 1,745.

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