Number of active oil rigs drops by 14

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HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States dropped by 14 this week to 1,852.

Of the rigs running nationwide, 1,428 were exploring for natural gas and 413 for oil, Houston-based Baker Hughes Inc. reported Friday. A total of 11 were listed as miscellaneous.

A year ago, the rig count stood at 1,828.

Of the major oil- and gas-producing states, Texas lost 38 rigs, Colorado lost eight, Louisiana lost five, Arkansas lost three and Oklahoma lost one. Wyoming gained three rigs and New Mexico gained two. Alaska, California and North Dakota remained unchanged.

Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.

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