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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: DRRISK who wrote (9142)	9/5/1998 12:25:00 AM
From: DEER HUNTER	Read Replies (1) \| Respond to of 11888

DrR....another sign of the times...... biz.yahoo.com Friday September 4, 5:12 pm Eastern Time U.S. rig count falls 20 to 770 NEW YORK, Sept 4 (Reuters) - The number of rigs exploring for oil and natural gas in the United States stood at 770 as of September 4, down 20 from the previous week, and down from 1,032 a year ago, oil services firm Baker Hughes Inc. said Friday. The number of rigs drilling on land fell 14 to 636, while rigs working offshore fell two to 115. The number of rigs active in inland waters fell four to 19. Among individual states, the biggest changes occurred in Pennsylvania, down ten, and in Louisiana, down seven. The Gulf of Mexico rig count fell by two to 110. The number of rigs searching for gas fell 16 to 552, the number of rigs searching for oil fell three to 218, and the number of miscellaneous drilling projects fell one to zero. There were 200 rigs drilling directionally, 32 drilling horizontally and 538 drilling vertically. In Canada, the number of working rigs rose 13 from the previous week, to 202 vs. 424 a year ago. The weekly rig count reflects the number of rigs exploring for oil and gas, not those producing oil and gas. ------------------------------------------------------------------------------- Friday September 4, 4:26 pm Eastern Time Note: this article has a followup with more information. U.S. Gulf rig count falls nine to 136 NEW YORK, Sep 4 (Reuters) - There were 136 rigs under contract in the U.S. Gulf as of September 4, down nine from the previous week, and the fewest number in more than three years, Offshore Data Services said Friday. The utilization rate for rigs working in the Gulf, based on a total fleet of 173, was 78.6 percent. The rig count was at lowest level since May, 1995. The number of working rigs in the European/Mediterranean area remained at 111 rigs under contract out of a total fleet of 114, a utilization rate of 97.4 percent. The worldwide rig count was up six at 538 out of a total fleet of 608, with a utilization rate of 88.5 percent.