Texas adds 7 rigs as US rig count increases to 995

MarketsAssociated Press

The number of rigs exploring for oil and natural gas in the U.S. increased by five this week to 995.

That exceeds the 809 rigs that were active this time a year ago.

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Houston oilfield services company Baker Hughes reported Friday that 804 rigs drilled for oil this week and 190 for gas. One was listed as miscellaneous.

Among major oil- and gas-producing states, Texas increased by seven rigs and Alaska and Colorado each gained two.

Oklahoma lost four rigs, Utah decreased by two and Ohio lost one.

Arkansas, California, Louisiana, New Mexico, North Dakota, Pennsylvania, West Virginia and Wyoming were unchanged.

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