The number of rigs exploring for oil and natural gas in the U.S. dropped again by nine this week to 406, another all-time low amid depressed energy prices. A year ago, 888 rigs were active.
Baker Hughes Inc, based out of Houston, Texas, reported Friday that 328 rigs are exploring for oil while 86 sought natural gas. One was listed as miscellaneous.
The oil- and gas- producing states which saw the largest declines were Texas with seven, Louisiana with three, and North Dakota, Oklahoma, and Wyoming which each fell by one.
California and New Mexico showed gains by two rigs each.
Alaska, Arkansas, Colorado, Kansas, Ohio, Pennsylvania, Utah and West Virginia remained static.
The rig count in the U.S. peaked at 4,530 in 1981. The previous low of 488 set in 1999 was eclipsed March 11, and has continued to slide.
