US rig count increases by 5 to 1,769

US rig count increases by 5 this week to 1,769, down from a year ago when count stood at 1,974

Associated Press

HOUSTON (AP) -- Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. rose by five this week to 1,769.

The Houston-based company said in its weekly report Friday that 1,412 rigs were exploring for oil and another 350 for gas. Seven were listed as miscellaneous. A year ago there were 1,974 active rigs.

Of the major oil- and gas-producing states, Texas gained seven from the previous week while Oklahoma and North Dakota increased by two. Louisiana lost two rigs while New Mexico, Wyoming and Pennsylvania each decreased by one. The number of rigs in California, Colorado and Kansas remained unchanged.

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

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