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I believe that there is just one. I replaced mine a few years back in my '91 ranger. Wasn't the easiest thing to get to, but with patience you can do it.
I remember tieing a length of string to the harness that went to the O2 sensor to keep it from falling into unreacheable crevices. Believe me, the string thing did help. Good luck...may the ford's be with you!
I have 158,000 miles on my '91 and get about 21-23 mpg.
It was the harness that i kept tied up so it was easy to retrieve once the sensor was removed. There is not alot of length to the harness, so once you remove it from the sensor you will have a hard time getting it back into reach.
The string allowed me to let the harness fall where it wanted and then be able to pull it back into reach when the sensor was installed.