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September 2016

Vol. 21, No. 38 Week of September 18, 2016

Drilling rig count grows by 11 to 508

The number of rigs drilling for oil and natural gas in the U.S. increased by 11 the week ending Sept. 9 to 508.

A year ago, 848 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration.

Houston oilfield services company Baker Hughes Inc. said 414 rigs targeted oil, up seven, and 92 natural gas, up four. Two were listed as miscellaneous.

Among major oil- and gas-producing states, Louisiana gained eight rigs, Texas was up four, Utah and West Virginia each increased by two and Ohio by one.

Oklahoma declined by four and New Mexico was off two.

Alaska, Arkansas, California, Colorado, Kansas, North Dakota, Pennsylvania and Wyoming were unchanged.

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

- Associated Press





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