US Oil Rig Count Passes 1,000

On June 24, 2011, the Baker Hughes weekly count of rigs actively drilling for oil in the United States was 1,003, marking the first week since the company began separating oil and natural gas rig counts in 1987 that the 1,000 count threshold for oil-targeted rigs was surpassed. The weekly count increased steadily through the end of July, reaching 1,025 on July 29.

Read more from the EIA http://www.eia.gov/oog/info/twip/twip.asp?src=email

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