U.S. rig count down 1 this week, settles at 1,738

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 one this week to 1,738.

The Houston-based company said in its weekly report Friday that 1,357 rigs were exploring for oil and 376 for gas. Five were listed as miscellaneous. A year ago there were 1,826 active rigs.

Of the major oil- and gas-producing states, California gained two rigs, while Alaska, Arkansas, Louisiana, Ohio and Pennsylvania each increased by one.

Meanwhile, Texas lost five rigs, and Oklahoma and West Virginia decreased by one rig each. Colorado, Kansas, New Mexico, North Dakota, Utah and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.