By April 2, 2015 Read More →

US natural gas, oil rig count drops to 1,028 as oil prices slump

US rig count drops – 1,818 rigs last year compared to 1,028 this year

rig count

US rig count up in California, Alaska and West Virginia.

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 20 this week to 1,028 amid slumping oil prices.

Houston-based Baker Hughes said Thursday 802 rigs were seeking oil and 222 exploring for natural gas. Four were listed as miscellaneous. A year ago, 1,818 rigs were active.

Among major oil- and gas-producing states, Texas and North Dakota each dropped six rigs, Louisiana was off five and Oklahoma four. Arkansas, Kansas, Ohio and Pennsylvania declined one apiece.

California was up by two and Alaska and West Virginia added one rig each.

Colorado, New Mexico, Utah and Wyoming were unchanged.

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

The Associated Press

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