HOUSTON — The number of rigs actively exploring for oil and natural gas in the United States fell by 11 this week to 876, down more than 1,000 from a year ago.
Of the rigs running nationwide, 685 were exploring for natural gas and 183 for oil, Houston-based Baker Hughes Inc. reported Friday. Eight were listed as miscellaneous.
A year ago, the rig count stood at 1,901. The U.S. count is down 57 percent since the end of August as weak energy demand has hampered oilfield activity.
Oil prices peaked at almost $150 a barrel in July before plunging. Benchmark crude for July delivery fell 86 cents to $71.82 in trading Friday on the New York Mercantile Exchange, the first time oil prices have fallen in several days.
Of the major oil- and gas-producing states, Texas lost seven rigs, Colorado lost five, Alaska lost two and Arkansas lost one. North Dakota added two, Louisiana and New Mexico each gained one and Wyoming, California and Oklahoma 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.
