Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Drops to Lowest Level since July

Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Drops to Lowest Level since July

Article excerpt

The number of rigs actively exploring for oil and natural gas in Oklahoma this week dropped to its lowest level since the last week of July.

Oklahoma's rig count for the week totaled 149, down from 156 the previous week but up from 148 for the same week in 2004, according to a report from Houston-based Baker Hughes.

The state's highest weekly rig count this year was 163 for the week ended Aug. 12. The state's lowest weekly rig count this year was 146 for five different weeks.

The weekly Baker Hughes report, normally released each Friday, was issued on Wednesday because of the Thanksgiving holiday. It was also the last report of the month.

Oklahoma's average weekly rig count for November totaled 153, down from 155 the previous month and from 158 for November 2004.

The number of rigs actively exploring for oil and natural gas in the United States this week totaled 1,491, up 13 from the previous week and up from 1,251 for the same week in 2004. …

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