Friday, August 7, 2009

Rig Counts: Up and Up...Again

The Baker Hughes rig count came out today and it showed an 18 rig increase in the U.S. to 966. This represents a 1.9% increase in national rig count. Of these new rigs, 16 were oil and four were gas (two miscellaneous rigs were taken out of commerce to reach the 18 total).

In the Haynesville Shale region, the rig count increased by seven, a 5.5% rise, to 134. Of the increase, one was in Louisiana (to 88) and six were in Texas (to 46). Given the net four gas rig increase nationally and the net seven increase in the Haynesville Play, it implies that without the Haynesville Shale there would have been a decrease of three gas rigs nationally.

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