Breitling Oil and Gas Morning Podcast #107 July 9th, 2012

AP reported that the number of rigs actively explore for oil and natural gas in the US is down by 7 last week to 1,959.

1,421 rigs were exploring for oil and 534 for gas. Four were listed as miscellaneous. A year ago, Baker Hughes reported 1,886 rigs.

Of the major oil and gas producing states, Oklahoma gained ten rigs, Colorado added two and Alaska and Wyoming each added one.

Texas lost nine rigs, North Dakota lost eight, Pennsylvania lost five and California lost one. Arkansas, Louisiana, New Mexico and West Virginia were unchanged.

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



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