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HOUSTON-
The number of rigs actively exploring for oil and natural gas in the United States dropped by 7 this week to 1,740.
Of the rigs running nationwide, 1,456 were exploring for natural gas and 282 for oil, Houston-based Baker Hughes Inc. reported Friday. Two were listed as miscellaneous.
A year ago, the rig count stood at 1,503.
Of the major oil- and gas-producing states, New Mexico gained four rigs, Louisiana gained three, Colorado gained two and Alaska gained one. Texas lost 12 and Oklahoma lost four. California and Wyoming were unchanged.
Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.
