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February 2002

Vol. 7, No. 8 Week of February 24, 2002

Domestic oil and gas rig count down by 23

by The Associated Press

The number of rigs actively exploring for oil and natural gas in the United States this week decreased by 23 to 815.

Alaska at 16 was unchanged from the previous week, but up one from January. Of the rigs running nationwide, 668 were exploring for gas, 146 were looking for oil and one was listed as miscellaneous, Houston-based Baker Hughes Inc. reported Feb. 15.

A year ago, the rig count was 1,147.

Baker Hughes has kept track of the count since 1944. The tally peaked at 4,530 on Dec. 28, 1981, during the height of the oil boom, but set several record lows in 1999, bottoming out at 488 on April 23, 1999. Of the major oil- and gas-producing states, Texas lost 22 rigs, California lost six and Oklahoma was down three. Louisiana was up by five, while New Mexico increased by one. Wyoming and Alaska were unchanged.





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