Drilling Rig Count Rises: The number of...

Drilling Rig Count Rises: The number of working oil and gas rigs in the country rose by 45 to total 903 last week, Baker Hughes Inc. reported. The steep increase partly was due to areas drying out from the heavy rains brought on by Hurricane Chantal several weeks ago, said Ike Kerridge, vice president of stockholder relations for Baker Hughes. A year ago, the count totaled 937. The company’s rig count--the widely watched industry index of drilling activity--reflects the number of rigs actively exploring for oil as of last Friday, not the number of rigs actively producing oil.