Number Of Active Rigs Falls By 1

HOUSTON (AP) — The number of rigs actively exploring for oil and natural gas in the U.S. this week fell by one to 1,040.

Houston-based Baker Hughes Inc. said Friday that 721 rigs were exploring for natural gas and 309 for oil. Ten were listed as miscellaneous. A year ago this week, the rig count stood at 1,976.

Of the major oil- and gas-producing states, North Dakota gained five rigs. New Mexico gained three, and Louisiana and Wyoming gained one each. Arkansas lost one rig, while Colorado, Texas and Oklahoma lost two each. The numbers of rigs in Alaska and California were unchanged.

The rig count tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted a record low of 488 in 1999.