US rig count drops 7 to 443, an all-time low - April 17, 2016

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2016

Vol 21, No. 16

Week of April 17, 2016

US rig count drops 7 to 443, an all-time low

The number of rigs exploring for oil and natural gas in the U.S. dropped by seven the week ending April 8 to 443, another all-time low amid depressed energy industry prices.

A year ago, 988 rigs were active.

Houston oilfield services company Baker Hughes Inc. said 354 rigs were drilling for oil and 89 for natural gas.

Among major oil- and gas-producing states, Texas lost seven rigs and North Dakota two. Alaska, California and Kansas each dropped one.

Ohio and Oklahoma gained two rigs apiece, while New Mexico was up one.

Arkansas, Colorado, Louisiana, Pennsylvania, Utah, West Virginia and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981. The previous low of 488 set in 1999 was eclipsed March 11, and has continued to dip.

- Associated Press

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