The number of rigs drilling for oil and natural gas in the U.S. rose this week as producers increased drilling activity on hopes of an economic recovery that will spur energy demand. The number of oil and gas rigs climbed to 985, up 17

from the previous week, according to data from oil-field services
company Baker Hughes Inc. (BHI). The number of gas rigs was 695, an
increase of seven rigs from last week, while the oil rig count climbed
to 280, an increase of eight rigs. The number of miscellaneous rigs was
10, an increase of two rigs.

The number of gas rigs in use peaked at 1,606 in September 2008.

Producers have reined in oil and gas drilling over the past several
months amid falling prices, but companies have begun putting some rigs
back to work.

“There is optimism that prices will rebound,” said Kent Bayazitoglu, an analyst with Houston-based Gelber & Associates.

Gas supplies remain ample. U.S. inventories are expected to approach
maximum storage capacity before the winter. Swelling storage levels
have contributed to a sharp price decline. Natural gas prices have
dropped more than 75% from their highs last summer above $13/MMBtu.
This week, prices dropped below $3/MMBtu for the first time in seven
years.

Analysts anticipate that the sharp decline in natural gas drilling
activity earlier this year will eventually bring supply back in line
with demand and help bolster gas prices.

Gas for September delivery on the New York Mercantile Exchange was
recently down 4.7 cents, or 1.6%, at $2.898 a million British thermal
units.

Source: Dow Jones

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• Baker Hughes: U.S. Oil, Gas Rig Count Down 10 to 999 this week

    The number of rigs drilling for oil and natural gas in the U.S. fell this week as energy companies pared back drilling activity. The number of oil and gas rigs fell to 999 from 10 from the previous week, according to data from oil-field services company Baker Hughes Inc. (BHI).

• Baker Hughes: U.S. Oil, Gas Rig Count Up 14 to 999 this week

    The number of rigs drilling for oil and natural gas in the U.S. rose this week as producers increased drilling activity on hopes of an economic recovery that will spur energy demand. The number of oil and gas rigs climbed to 999, up 14 from the previous week, according to data

• Baker Hughes: U.S. Oil, Gas Rig Count Up 7 To 1017 This Week

    The number of rigs drilling for oil and natural gas in the U.S. rose this week as producers restarted some rigs in anticipation of higher prices. The number of oil and gas rigs rose to 1,017, up seven rigs from the previous week, according to data from oil-field services company Baker Hughes Inc. (BHI).

• U.S. oil rigs at 11

    The number of oil and gas rigs drilling in the US is up by 11 this week to total 1010. The number of rigs drilling for oil is up by five to 293 and those drilling for gas gained six to total 705, according to a report by Houston-based oilfield

• U.S. rig count to 32, win all the land

    US drilling activity jumped by 32 rotary rigs to 1,193 units working this week, compared with 1,764 during the same period in 2008, Baker Hughes Inc. reported. Land drilling accounted for all of the gain, up 38 rigs to 1,146 in operation

• U.S. oil rigs by 15

    The number of rigs drilling for oil gained seven this week to 416 and those drilling for gas lost 22 bringing the total to 751, according to a report by Houston-based oilfield services company Baker Hughes. On a state-by-state basis, Louisiana, North Dakota and Oklahoma gained two rigs each bringing

• U.S. natural gas rig count falls, the first time in 4 weeks

    The number of rigs drilling for natural gas in the United States fell by six this week to 728, according to a report on Friday by oil services firm Baker Hughes in Houston. It was only the third time in the last 17 weeks that the U.S

• Baker Hughes: Sep U.S. oil and gas rig count August 1009 Vs g 980

    The number of U.S. oil and natural-gas drilling rigs in operation rose sequentially last month, Baker Hughes Inc. (BHI) reported Wednesday, though they remained well below last year’s levels as low energy prices and abundant supplies continue to curb drilling demand. The oil-field services provider said the U.S. rig count rose

• U.S. Oil rig count climbs to highest level since 1991

    The U.S. total rig count gained for the third straight week, rising by 11 to 1,407, with the number of oil rigs reaching an 18-year high, according to Baker Hughes Inc. The number of oil rigs rose by 10 to 466, the highest total since December 1991, as crude futures

• U.S. Oil rig count climbs to highest level since 1991

    The U.S.

• Asian August Rig Use case 9% to recession, says Baker Hughes

    The number of rigs used by oil and gas explorers in Asia fell 9 percent in August as the global recession sapped demand for energy and reduced credit, according to data from Baker Hughes Inc. The Asia-Pacific region used 233 rigs on land and water in August compared with 257 a

• Number of active platforms by 24

    The number of rigs actively exploring for oil and natural gas in the U.S. this week has risen by 24 this week to 1,137.

• U.S. rig count increased by 23

    The number of rigs actively exploring for oil and natural gas in the U.S.

• Number of active U.S. rigs to 28

    The number of rigs actively exploring for oil and natural gas in the U.S. rose by 28 this week to 1,248. Houston-based Baker Hughes Inc.

• Saudi oil drilling expected to be stable in 2010

    Drilling for oil in top oil exporter Saudi Arabia in 2010 is expected to remain the same as last year, industry sources said on Saturday, but state oil giant Aramco would increase gas drilling activities. Aramco’s focus on gas came as the kingdom continues to step up efforts to meet