US rigs fall by 12

** ADVANCE FOR WEEKEND EDITIONS, MARCH 4-5 ** A drilling rig stands over a natural gas well near Interstate 70 west of Rifle, Colo., in this photograph taken on Wednesday, Jan. 25, 2006. Energy companies hunting for natural gas are snapping up land all around them, either through old oil shale claims or through federal auctions. (AP Photo/David Zalubowski)

US rigs: fall by 12

DAVID ZALUBOWSKI

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Luke Johnson

 13 July 2012 18:04 GMT

The number of oil and gas rigs drilling in the US fell by 12 this week for a total of 1953, according to US services giant Baker Hughes.

Rigs drilling for gas fell by 20 this week, erasing gains from last week and falling back to a 13-year low. There were a total of 522 gas rigs drilling this week, well off the 885 that were drilling this time last year.

Rigs drilling for oil were up by eight for a total or 1427, a 414-rig improvement from a year ago, according to Baker Hughes. That is the highest oil-rig count in 25 years.

Texas was the big loser this week after shedding 17 rigs for a total of 910.

Louisiana and…

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