Friday, June 5, 2009

Rig Counts as of June 5

Nationwide, the Baker Hughes rig count was down by 12 to 887 this week. That represents a drop of 999 from last year. Maybe there will be a balloon drop somewhere when the number crosses an even 1,000.

In the Haynesville Shale area of N. LA and E. TX, the count stood at 123, which is down seven from last week. The number of rigs in E. Texas dropped by one to 51, but in north Louisiana, the count was down significantly (seven rigs) to 72. Remember that this is my informal count and the region also covers rigs drilling into the Cotton Valley, James Lime and other formations, so don't draw any specific conclusions about drilling in the Haynesville Play from this data snippet.

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