One year low for Nat Gas RigsHere's the key sentence: "Natural gas rigs declined by seven to 899, the lowest levelin more than a year. The gas rig count is 44 percent below apeak of 1,606 in 2008.
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"Oil rigs operating in the U.S.jumped by the most this year as prices climbed to a 29-monthhigh, according to data published by Baker Hughes Inc. (BHI) Thenumber of natural gas rigs dropped to a one-year low.
Oil rigs climbed 18 to 801, the biggest one-week increasesince the seven days ended Dec. 10, Baker Hughes said on itswebsite. It was the count’s first advance in four weeks.
Crude for April delivery rose $2.51, or 2.5 percent, to$104.42 a barrel on the New York Mercantile Exchange, thehighest settlement since Sept. 26, 2008.
The combined oil and gas rig count increased by eight to1,707, also the first gain in four weeks. The tally rose to a22-year high in 2008, peaking at 2,031. Rigs increased the mostin Colorado, by seven, and fell the most in Pennsylvania, by 11.
Natural gas rigs declined by seven to 899, the lowest levelin more than a year. The gas rig count is 44 percent below apeak of 1,606 in 2008."
Last update: 4:05 PM ET, Mar 4