Newspaper article THE JOURNAL RECORD

U.S. Active Rig Count Rises; Sooner State Unchanged

Newspaper article THE JOURNAL RECORD

U.S. Active Rig Count Rises; Sooner State Unchanged

Article excerpt

The nation's active rig count rose 27 to 801 for the week ended Friday -- the first time it has been more than 800 since December 1994.

Rigs operating nationwide were up 9.4 percent from 732 a year earlier.

The increase was fueled by Texas, which added 22 rigs rising to 303, and North Dakota, which added seven rigs for a total of 21.

Oklahoma's active rig count for the week was unchanged at 99 and was down one from a year earlier.

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

The count peaked at 4,500 in December 1981 during the oil boom. In June 1992, the count fell to a record low of 596.

Rigs exploring for natural gas for the week ended Friday totaled 483, up one from the previous week and up 85 rigs from a year earlier. Oil rigs working for the week totaled 297, up 17 from the previous week but down 21 from the same week in 1995. …

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