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January 20, 2013

U.S. rig count drops by 11

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. dropped by 12 this week to 1,749.

The Houston-based company said in its weekly report Friday that 1,316 rigs were exploring for oil and 429 for gas. Four were listed as miscellaneous. A year ago, Baker Hughes counted 2,008 working rigs.

Of the major oil- and gas-producing states, Oklahoma declined by three.

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