National rig count rises by 4 to 1,048

Petroleum News

The number of rigs drilling for oil and natural gas in the U.S. increased by four the week ending Aug. 31 to 1,048.

At this time a year ago there were 943 active rigs.

Houston oilfield services company Baker Hughes reported that 862 rigs targeted oil (up two from the previous week) and 184 targeted gas (also up two). Two were listed as miscellaneous (no change).

Among major oil- and gas-producing states, Louisiana gained one. New Mexico and Oklahoma each lost one. Alaska, California, Colorado, North Dakota, Texas and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.

- Petroleum News