Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Increases to `97 High

Newspaper article THE JOURNAL RECORD

Oklahoma Rig Count Increases to `97 High

Article excerpt

Oklahoma, which climbed to a 3-month high, and Texas led the nation's increase in rig activity for the week ended Friday, according to a Houston survey.

Oklahoma's active rig count rose 10 to 115 -- its highest level since 116 rigs were active Oct. 25, according to Baker Hughes Inc.

The state count was up 22 rigs, or 24 percent, compared with the same week in 1996. Texas' rig count for the week increased nine to 313. The U.S. count rebounded for the week, increasing 26 to 833 from 807 a week earlier. The nation's count was 138 rigs, or 20 percent, higher than the same week a year earlier. The rig count is the number of rigs actively exploring for -- not producing -- oil and natural gas. Active offshore rigs rose four to 111 for the week ended Friday. That was up 11 from the same week in 1996. Rigs drilling for oil totaled 350, up 17 from the previous week and up 69 rigs, or 24. …

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