Friday, August 28, 2009

Rig Counts: Up and Down

Baker Hughes released its weekly rig counts today.  The U.S. rig count was up by 14 to 999.  It hasn't been above 1,000 since April.  This figure represents a 14% increase from its bottom back in June 2009. The increase was across the board:  +6 oil rigs, +4 gas rigs and +4 miscellaneous rigs.  The number of gas rigs operating nationally is only 5% higher than the bottom established in July.

In the Haynesville Shale region of northeast Texas and north Louisiana (which includes a few other plays), the rig count was down by two to 137.  The count was down by two in Texas and held steady in Louisiana. 

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