HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. didn't increase this week, remaining at 975 for the second week in a row.
That exceeds the 751 rigs that were active this time a year ago.
Houston oilfield services company Baker Hughes reported Friday that 798 rigs drilled for oil this week and 177 for gas.
Among major oil- and gas-producing states, Oklahoma increased by five rigs, Alaska gained four and Pennsylvania increased by three.
New Mexico decreased by three rigs; Louisiana, Ohio and West Virginia each lost two; and Colorado and North Dakota each decreased by one.
Arkansas, California, Kansas, Texas, Utah and Wyoming were unchanged.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.
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