Newspaper article THE JOURNAL RECORD

U.S. Rig Count Hits Two-Year High

Newspaper article THE JOURNAL RECORD

U.S. Rig Count Hits Two-Year High

Article excerpt

The number of rigs actively exploring for oil and natural gas in the United States last week climbed its highest level in two years.

The nation's active rig count for the week totaled 1,109, up 18 from the previous week and up from 849 a year earlier, according to a report from Houston-based Baker Hughes. The U.S. rig count has been up for three consecutive weeks. It was the highest rig count for the nation since it totaled 1,141 for the second week of October 2001. In the last two years the weekly rig count has fallen as low as 738 for the week ended April 5, 2002.

The number of rigs actively exploring for oil and natural gas in Oklahoma for the week ended Friday was unchanged at 139. For the last six weeks, the state's rig count has been in a narrow range of 138-140. The statewide rig count for the week was up from 93 a year earlier, according to Baker Hughes. …

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