US rig count rises this week to 927; Oklahoma gains 5

Markets Associated Press

The number of rigs exploring for oil and natural gas in the U.S. rose by 11 this week to 927.

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A year ago, just 414 rigs were active.

Houston oilfield services company Baker Hughes said Friday that 741 rigs sought oil and 185 explored for natural gas this week. One was listed as miscellaneous.

Oklahoma added five rigs, New Mexico gained four, while West Virginia and Ohio tacked on two each. Louisiana, Pennsylvania, Utah and Wyoming each gained one.

Texas lost three rigs, Alaska shed two, while Colorado lost one.

Arkansas, California, Kansas and North Dakota 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.