U.S. weekly rig count rises by seven

The number of rigs actively exploring for oil and natural gas in the United States rose by seven the week ending Dec. 22 to 1,723.

Of the rigs running nationwide, 1,438 were exploring for natural gas and 279 for oil, Houston-based Baker Hughes Inc. reported Dec. 22. Six were listed as miscellaneous.

A year ago, the rig count stood at 1,475.

Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.

Of the major oil- and gas-producing states, Louisiana gained five rigs, Colorado four, Oklahoma three and Texas one. Wyoming and New Mexico each declined by three and Alaska was down one. California was unchanged.

—The Associated Press