U.S. Rig Count Rises to 1,350
NEW YORK (
) -- The U.S. rig count for February was 1,350, up from 1,267 counted in January and 1,320 from February 2009, according to
Baker Hughes
(BHI)
.
The worldwide rig count for February was 2,982, up from 2,773 counted in January and 2,753 last February.
Rig count is the number of rigs actively exploring for oil and natural gas in the U.S., Canada and internationally.
Baker Hughes said the international rig count for February was 1,068, up from 1,047 counting in January and 1,020 in February 2009.
The rig count tally peaked at 4,530 in 1981, during the height of the oil boom, according to the
Associated Press
. The industry posted a record low of 488 in 1999.
-- Reported by Joseph Woelfel in New York.
Follow TheStreet.com on
and become a fan on