HOUSTON (KFGO-AM) - Oilfield services company Baker Hughes Incorporated says the number of rigs exploring for oil and natural gas in the U.S. plunged by 87 this week to 1,456 amid depressed oil prices.
The Houston, Texas-based firm said Friday in its weekly report 1,140 rigs were exploring for oil and 314 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 plummeted by 41, and North Dakota's dropped by 11.
West Texas Intermediate crude futures for March closed at $51.69 a barrel.