US drilling rig count again steady at 790
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For the second week in a row the U.S. drilling rig count has held steady at 790.
Baker Hughes reports the number of rigs drilling for oil and natural gas in the U.S. the week ending Feb. 14 is unchanged from the previous week; it is also unchanged from two weeks ago, although the count is down by 261 from 1,051 a year ago.
In its weekly rig count the Houston oilfield services company said 678 rigs targeted oil, up two from the previous week and down 179 from a year ago, while 110 targeted natural gas, down one from the previous week and down 84 from a year ago. There were two miscellaneous rigs active, down one from the previous week and up by three from a year ago.
The company said 47 of the holes were directional, 713 were horizontal and 30 were vertical.
The rig count in Texas, the state with the most active rigs at 397, was up three from the previous week.
The New Mexico rig count was up by one.
Rig counts were unchanged from the previous week in California, Colorado, Louisiana, North Dakota, Ohio, Oklahoma, Utah and West Virginia.
Alaska, Pennsylvania and Wyoming were each down by one rig from the previous week.
Baker Hughes shows Alaska with nine rigs active for the week ending Feb. 14, down three from a year ago.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.
- KRISTEN NELSON