US oil and gas rig count up 7

Of the rigs running nationwide, 1,475 were exploring for natural gas and 361 for oil, Houston-based Baker Hughes Inc. reported Friday. Ten were listed as miscellaneous.

A year ago, the rig count stood at 1,740.

Of the major oil- and gas-producing states, Texas added seven rigs, California added four and Wyoming added one. Louisiana and New Mexico each lost three and Colorado lost two. Alaska and Oklahoma were 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.