Friday, July 10, 2009

Rig Counts: Down and Down

The Baker Hughes rig counts came out today and the U.S. count is down by 12 for the week to 916. The oil rig count is up by 5 to 234 and the gas rig count is down by 16 to 672. Compared to this time last year, the gas rig count is down by 872, or 56%.

In the Haynesville region of North Louisiana and East Texas (which includes other formations), the net count is down by three to 120. The count was down four in Texas and up one in Louisiana.

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