Texas adds 13 rigs as US rig count rises to 947

Markets Associated Press

The number of rigs exploring for oil and natural gas in the U.S. rose by 11 this week to 947.

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That exceeds the 712 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Friday that 759 rigs drilled for oil this week and 188 for gas.

Among major oil- and gas-producing states, Texas added 13 rigs, West Virginia increased by four, and New Mexico increased by three.

Oklahoma lost four rigs, Louisiana lost three rigs, and Ohio and Utah each lost a single rig.

Alaska, California, Colorado, North Dakota, Pennsylvania and Wyoming were 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.