National Rig Count up 11

The number of rigs exploring for oil and natural gas in the United States stands at 1,739, up 11 from last weeks reported 1,728, according to the weekly Baker Hughes rotary rig count. Last year’s count for the third week of October was 1,474.

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, 1,442 were exploring for natural gas and 291 for oil. Six were listed as miscellaneous.

In the weekly talley, Baker Hughes reports that Texas ran 799 rigs during the week, which equaled the previous weeks’ total. Oklahoma gained eight rigs (186) and Louisiana lost three (191). Oklahoma lost eight rigs, Colorado gained three rigs and is now running 93 and New Mexico is running 88, which equaled that states previous week’s totals. California gained one rig (34), Alaska was unchaged at six rigs, while Wyoming lost seven and is now running 100.

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