Saturday, April 25, 2009

Rig Count(down)

Again, the Baker Hughes rig count for the U.S. is down. This week, the rig count dropped by 20 from 975 to 955. In the Haynesville Shale region, the rig count in north Louisiana dropped (for the first time this month) from 75 to 73. In East Texas, the rig count dropped from 66 to 62.

The Texas count has been dropping for a while. This is the first time the Louisiana count has dropped in a few weeks, but it the count still higher than it was at the beginning of the month. The bottom line is that natural gas supply is going to be going down.

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