Friday, August 21, 2009

Rig Counts: Up Again

The Baker Hughes rig counts showed a pretty strong increase of 17 rigs in the U.S. to 985. It's still 1,013 rigs below the number last year, but it is 109 rigs (+12.4%) higher than the recent trough a few months ago. The rig increase was across the board, as oil rigs increased by eight, gas rigs increased by seven and miscellaneous rigs increased by two.

In the Haynesville Shale area (which includes other formations), the rig count increased by three to 139. The three rig increase was in East Texas, while the figure was unchanged in Louisiana.

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