Newspaper article THE JOURNAL RECORD

U.S. Rig Count Continues Climb; State Rises by One

Newspaper article THE JOURNAL RECORD

U.S. Rig Count Continues Climb; State Rises by One

Article excerpt

Oklahoma's rig count remained steady for the week ended Friday as the U.S. count continued to climb after surpassing 800 the prior week for the first time since December 1994.

The nation's count totaling 809 was up eight from the previous week.

The U.S. count was up 70 rigs, or 9 percent, compared with the same week a year ago.

The state rig count increased one to 100 after two consecutive weeks at 99. The count was three rigs higher than the same week in 1995, according to Baker Hughes Inc. of Houston.

The rig 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.

Baker Hughes has kept track of the count since 1940.

The U.S. count peaked at 4,500 in December 1981 during the oil boom. In June 1992, it set a record low of 596. …

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