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The February 2002 rotary rig count was 825, 5 percent lower than the count in January 2002 and 27 percent lower than the count in February 2001. Of the total number of rigs in operation, 702 were onshore and 123 were offshore. For February 2002, the number of onshore rigs was down 28 percent, while the number of offshore rigs was down 25 percent from the February 2001 count. Rotary rigs drilling for natural gas as a share of total rigs stood at 82 percent in February 2002.

Total footage drilled in February 2002 was 11.5 million feet, 8 percent lower than the footage drilled in January 2002 and down 13 percent from that drilled in February 2001.

The estimated number of exploratory and development crude oil and natural gas wells drilled during February 2002 was 1,838, 9 percent fewer than the number drilled in January 2002 and 17 percent fewer than the number drilled in February 2001. The estimated number of crude oil wells drilled was 315, and the estimated number of natural gas wells was 1,523, 50 percent lower and 4 percent lower, respectively, than their February 2001 levels.

The estimated number of dry holes drilled in February 2002 was 116, down 32 percent from the number drilled in January 2002 and down 61 percent from the number drilled in February 2001.

There were 1.8 thousand well service rigs active in February 2002, 10 percent more than in the previous month.