Oil services firm Baker Hughes (BHI) said the number of rigs exploring for oil and natural gas in the U.S. rose by 23 this week to 1,396. There were 926 rigs exploring for natural gas, 456 exploring for oil and 14 listed as miscellaneous.
Texas gained 23 rigs, Colorado gained three, North Dakota gained two and Oklahoma and Pennsylvania each gained one, according to the Associated Press. Louisiana lost 10 rigs, New Mexico lost two and California lost one, the AP reported. Rig counts in Alaska, Arkansas, West Virginia and Wyoming were unchanged.
For the month of February, Baker Hughes said the U.S. rig count was up 83 to 1,350. That is 2.3% higher than in February 2009. February's international rig count was up 2% from January to 1,068 rigs. That is a 4.7% increase from February 2009.
Crude for April delivery rose 1.6% to close at $81.50 during Friday's NYMEX trading session. That is the highest level in nearly two months. A better-than-expected February jobs report was identified as one catalyst that help oil prices higher on Friday. April crude futures were up 2.3% this week.