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

To: Gottfried who wrote (32637)	12/9/1998 12:13:00 AM
From: Les H	Read Replies (1) \| Respond to of 95453

U.S. Oil, Gas Rig Total Falls by 17 Friday December 4 6:10 PM ET HOUSTON (AP) - The number of oil and gas rigs operating nationwide fell by 17 to 669 this week, Baker Hughes Inc. (NYSE:BHI - news) said Friday. There were 1,014 rigs operating in the United States during the same week last year. Of the rigs running this week, 502 were exploring for natural gas and 167 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, Texas declined by 16, while Wyoming was off four, California two and Louisiana and New Mexico one each. Alaska increased by three and Oklahoma was unchanged.