Friday, July 24, 2009

Rig Counts: Up 'n Up

The Baker Hughes rig count was released today and it showed increases across the board. U.S. rig count was up 23 to 943. That's the highest the rig count has been since May 1, 2009 - no great record, but it's 67 higher than the lowest figure this year, recorded June 12. It's still off 1,014 from this week last year, however. Interestingly, both oil (+13) and gas (+10) rigs increased.

In the Haynesville Shale region of North Louisiana and East Texas (inclusive of other fields), the rig count increased by 9, all in Louisiana. The E. Texas count was unchanged. I'm no mathematician, but it looks like 90% of the weekly increase in natural gas rigs came from the Haynesville Play.

No comments: