Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Crimson Ghost who wrote (33202)	12/20/1998 10:22:00 AM
From: Captain James T. Kirk	Read Replies (1) of 95453

7:17 pm Eastern Time Weekly Rig Count Down by 25 HOUSTON (AP) -- The number of oil and gas rigs operating nationwide dropped by 25 to 642 this week, Baker (NYSE:BHI - news) Hughes Inc. said Friday. Energy company officials said 1,019 rigs were operating in the United States during the same week last year. Of the rigs running this week, 489 were exploring for natural gas and 152 for oil. Houston-based Baker Hughes has kept track of the count since 1940. The tally peaked at 4,500 in December of 1981 during the oil boom. It dropped to a record low of 596 in the summer of 1993, exceeding the previous low of 663 in 1986. The rig count represents the number of rigs actively exploring for oil and natural gas. Of the major oil- and gas-producing states, both Texas and Louisiana dropped by 14 and Wyoming fell by two. California gained two more and Oklahoma added one. Alaska and New Mexico showed no change. --------------------------------------------------------------------------------

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