Posted: Feb 21, 2015 3:59 AMUpdated: Feb 21, 2015 3:59 AM
Rig Count Falls
Oilfield services company Baker Hughes Incorporated says the number of rigs exploring for oil and natural gas in the U.S. fell by 48 this week to 1,310 amid depressed oil prices.
The Houston-based firm said Friday in its weekly report 1,019 rigs were exploring for oil and 289 for gas. Two were listed as miscellaneous. A year ago 1,771 rigs were active.
Among the major oil- and gas-producing states, Texas' count fell by 22, Oklahoma lost 16, and North Dakota and Wyoming each lost four.
West Texas Intermediate which includes Bakken crude futures for March closed the week at $50.34 a barrel.
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