The number of rigs actively exploring for oil and natural gas in the U.S. this week has risen by 12 this week to 1,113.
Houston-based Baker Hughes Inc. said Friday that 726 rigs were exploring for natural gas and 375 for oil. Twelve were listed as miscellaneous. A year ago this week, the rig count stood at 1,941.
Of the major oil- and gas-producing states, Texas gained nine rigs, Louisiana gained six, North Dakota gained four, Oklahoma gained two and Alaska gained one. Colorado lost nine rigs, New Mexico lost two and Arkansas and California each lost one. Wyoming was unchanged.
The rig count peaked at 4,530 in 1981, during the height of the oil boom. The industry posted a record low of 488 in 1999.
ADVERTISEMENT