U.S. Rig Count Drops

The rig count of U.S. oil and natural gas operations fell to 1,787 last week, down 27 from the previous period.

1,483 rigs are targeting natural gas. 298 rigs are exploring for oil and 6 are listed as "miscellaneous".

During this week in 2006, the rig count stood at 1,737.

State by state numbers:

Alaska -1
Texas -26
Colorado +10
Oklahoma +4
New Mexico -4
Wyoming -3
Louisiana = unchanged

Rig counts have been tracked by Baker Hughes since 1944. The number peaked at 4,530 in 1981. The record low was set in 1999 at 488.