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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: oilbabe who wrote (50405)	9/3/1999 6:18:00 PM
From: Think4Yourself	Respond to of 95453

Baker Hughes Says Weekly U.S. Rig Count Rose By 3 to 671 Houston, Sept. 3 (Bloomberg) -- Baker Hughes Inc., the third- largest U.S. oilfield-services company, said the weekly number of working oil and natural-gas rigs in the U.S. rose by 3 to 671. The count has risen in recent months after touching a more- than-50-year low of 488 on April 23. This week's figure was 13 percent below the year-earlier level of 770. The Houston-based company's survey of industry rigs is a widely watched measure of drilling activity. While crude-oil prices rallied in March after touching a 12-year low in December, oil companies are just beginning to boost spending as they gain confidence that prices will remain higher, analysts said. The number of rigs operating in Canada for the week fell by 1 to 281, while the number of rigs working in the Gulf of Mexico rose 2 to 105.