Newspaper article THE JOURNAL RECORD

Graves Fears Rule by EPA May Hurt Oil, Gas Industry

Newspaper article THE JOURNAL RECORD

Graves Fears Rule by EPA May Hurt Oil, Gas Industry

Article excerpt

Oklahoma's active drilling rig count fell by one for the week to 113.

That was a 27 percent decrease from 155 for the same week in 1993, the state's highest rig count level in five years, according to records of Baker Hughes Inc. of Houston.

The nation's rig count dropped by seven to 807 from the previous week. That was 10.6 percent less than the U.S. rig count of 903 for the same week in 1993.

Oil rigs drilling for the week dropped by 28 to total 357. That was one less than for the same week a year ago. Rigs exploring for gas totaled 442, up 19 from the previous week but down 73 from 1993. There were 46 horizontal rigs and 140 directional rigs working for the week.

There were 109 offshore rigs working, up eight from the previous week and up 43, or 65 percent, from 1993.

The count is the widely watched index of domestic drilling activity and represents the number of rigs actively exploring for _ not producing _ oil and natural gas. …

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