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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (14578)12/31/1998 12:11:00 AM
From: Kerm Yerman   of 15196
 
TOP STORIES / Canadian Rig Count Steady & U.S. Rig Count Falls 13 To 621, Week Dec. 30

The number of rigs exploring for oil and natural gas in the United States fell 13 from last week to stand at 621 as of Dec. 30, and down from 1,003 a year ago, oil services firm Baker Hughes Inc. said Wednesday.

The number of rigs drilling on land was down 19 at 500, while rigs working offshore rose four to 102. The number of rigs active in inland waters was up two at 19.

The Gulf of Mexico rig count was up four at 100.

The number of rigs searching for gas fell one to 483, and the number of rigs searching for oil dropped 12 to 137.

There were 161 rigs exploring directionally, 41 exploring horizontally, and 419 exploring vertically.

In Canada, the number of working rigs held steady from the previous week at 236, compared with 368 a year ago.

The states with the largest number of changes in their rig counts were Alaska, California and Oklahoma, all of which fell four.

The weekly rig count reflects the number of rigs exploring for oil and gas, not those producing oil and gas.

Detailed Table Data & Charts
bakerhughes.com
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