Weekly Rig Count Down Five

The number of rigs exploring for oil and natural gas in the United States stands at 1,739, down 5 from last weeks reported 1,744, according to the weekly Baker Hughes rotary rig count. Last year’s count for the final week of October was 1,496.
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, 1,443 were exploring for natural gas and 291 for oil. Five were listed as miscellaneous.
In the weekly tally, Baker Hughes reports that Texas ran 792 rigs during the week, which was down 9 from the previous weeks’ total. Oklahoma gained three rigs (190) and Louisiana gained six (198). Colorado gained one rig and is now running 93 and New Mexico is running 90. California reported no change (33), Alaska lost one rig and is now running six rigs, while Wyoming lost five and is now running 96.

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