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Saturday, August 20, 2016

US rig count - 491

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 10 this week to 491.  A year ago, 885 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 406 rigs sought oil and 83 explored for natural gas this week. Two were listed as miscellaneous.  The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May at 404.

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