Posted: Jan 12, 2014 5:37 AMUpdated: Jan 11, 2014 5:37 AM
Rig Count Rises
Oilfield services company Baker Hughes Incorporated says the number of rigs exploring for oil and natural gas in the U.S. rose by three this week to 1,754.
The Houston firm said in its weekly report Friday that 1,393 rigs were exploring for oil and 357 for gas. Four were listed as miscellaneous.
Of the major oil- and gas-producing states, Oklahoma gained the most with 14 rigs, New Mexico's tally was up two, while Kansas added one.
Texas shut down seven rigs and Colorado's count declined by six.
West Texas Intermediate crude fell to an eight-month low Thursday on reports of ample supply. The blend benchmark set at Oklahoma's Cushing pipeline hub closed the week at $92.72 a barrel.
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