Number Of Active Rigs Increase By 9

HOUSTON (AP) — The number of rigs actively exploring for oil and natural gas in the U.S. this week has risen by nine this week to 1,078.

Houston-based Baker Hughes Inc. said Friday that 734 rigs were exploring for natural gas and 332 for oil. Twelve were listed as miscellaneous. A year ago this week, the rig count stood at 1,992.

Of the major oil- and gas-producing states, Louisiana gained five rigs, New Mexico gained three, Arkansas and California each gained two, and Oklahoma and Colorado each gained one. Texas lost four rigs, while North Dakota lost one.

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.