US drilling rig count rises by 11 to 1,032

Associated Press

The number of rigs drilling for oil and natural gas in the U.S. increased by 11 the week ending May 4 to 1,032. At this time a year ago there were 877 active rigs.

Houston oilfield services company Baker Hughes reported that 834 rigs drilled for oil (up nine from the previous week) and 196 for gas (up one). Two were listed as miscellaneous (up one).

Among major oil- and gas-producing states, New Mexico added six rigs and Oklahoma and Texas each gained two. Alaska, Louisiana and North Dakota added one apiece. Colorado declined by one.

Arkansas, California, Ohio, Pennsylvania, Utah, West Virginia and Wyoming were unchanged. The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404. - ASSOCIATED PRESS