US rig count increases 12 this week to 741; Texas up 7

Markets Associated Press

The number of rigs exploring for oil and natural gas in the U.S. increased by 12 this week to 741.

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A year ago, 541 rigs were active.

Houston oilfield services company Baker Hughes Inc. said Friday that 591 rigs sought oil and 149 explored for natural gas this week. One was listed as miscellaneous.

Texas increased by seven rigs, New Mexico was up by four rigs, Louisiana and West Virginia each gained two and Pennsylvania was up one.

Ohio and Wyoming each lost two rigs.

Alaska, Arkansas, California, Colorado, Kansas, North Dakota, Oklahoma and Utah were all unchanged.

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The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May at 404.