US rig count rises 8 this week to 916; Texas up 5

Markets Associated Press

The number of rigs exploring for oil and natural gas in the U.S. rose by eight this week to 916.

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A year ago, just 408 rigs were active.

Houston oilfield services company Baker Hughes said Friday that 733 rigs sought oil and 182 explored for natural gas this week. One was listed as miscellaneous.

Texas added five rigs, Oklahoma added three, while Colorado, North Dakota, and Ohio each gained one.

New Mexico and Pennsylvania each lost two rigs, while Louisiana lost one.

Alaska, Arkansas, California, Kansas, Utah, West Virginia and Wyoming were all unchanged.

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The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.