National Rig Count Up Five

The number of rigs exploring for oil and natural gas in the United States stands at 1,744, up 5 from last weeks reported 1,739, according to the weekly Baker Hughes rotary rig count. Last year’s count for the final week of October was 1,480.

Houston-based Baker Hughes Inc. has maintained rig counts since 1944. The highest total ever reported was 4,530 in 1981. The industry posted several record lows in 1999, bottoming out at 488.

Nationwide, 1,450 were exploring for natural gas and 289 for oil. Five were listed as miscellaneous.

In the weekly talley, Baker Hughes reports that Texas ran 801 rigs during the week, which was up two from the previous weeks’ total. Oklahoma gained one rig (187) and Louisiana gained one (192). Colorado lost one rig and is now running 92 and New Mexico is running 89. California reported no change (34), Alaska gained one rig and is now running seven rigs, while Wyoming gained one and is now running 101.

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