Fewer Working Gas, Oil Rigs Reported
The number of working oil and gas rigs in the United States dropped this week to 916, down 46 from the total posted last week, Hughes Tool Co. officials said.
Last week’s rig count of 962 was down 26 from the previous week.
Last year at this time, the count totaled 1,880, Hughes officials said Monday.
The rig count hit an all-time low of 663 in July. It was on an upswing before it dropped to 727 in late August, according to the Houston-based oil toolmaker, which has kept industry statistics since 1940.
In December, 1981, 4,500 rigs were active.
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