Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Drops to 79 for Week

Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Drops to 79 for Week

Article excerpt

By Bill May

Journal Record Staff Reporter

Oklahoma's active rig count closed Friday down 15.9 percent from the previous week to 79 and off 25 percent from 104 in the same week of 1991.

The drop of 15 rigs in one week made Oklahoma the lossader among the major oil and natural gas producing states as reported by Baker Hughes Inc. of Houston. It was the only state showing a doublegit loss from last week.

All the other states showed gains of losses of three rigs or less.

Overall, the U.S. rig count closed the week at 678, down 31 from the week before. This was down 14.9 percent from the 797 active rigs in the United States during the same week of 1991.

The rig count, a widely watched industry index, reflects the number of rigs searching for oil and gas, not producing wells.

Drilling for oil and gas was evenly distributed among the 678 active wells in the United States, with 48. …

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