Friday, March 5, 2010

Rig Count Mixed

The weekly Baker Hughes rig count showed a 23 rig increase in the U.S., bringing the total to 1,396 rigs.  Of the net new rigs, 21 are drilling for gas and two are classified as miscellaneous.  The weekly numbers showed a net increase of 16 horizontal rigs and 12 vertical rigs and a net decrease of five directional rigs.

Based on my analysis of the individual rigs, the Haynesville rig count decreased by one to 163.  Looking at the Texas Haynesville rig count, I noted few changes. In total, there was one new rig at work on Haynesville wells, bringing the total to 40.  There was one well over which I hesitated, the Marathon Oil Martinsville #1H.  It is classified as deep Wildcat but seems to be in an area of James Lime wells.  Marathon indicated that it plans three to four Haynesville/Bossier wells in 2010, but I opted to keep this one off the list. There was a similar well drilled over the past couple of months called USA Double H #1 for which I made the same decision.  I'll track completions to see how that is ultimately classified.  If anyone knows anything more about this well, please let me know.

The Louisiana rig count decreased by two to 123.  I did a little retroactive addition that might cause a little confusion.  I added a Lower Cotton Valley well that I've been wrestling with for a few weeks. I've finally concluded that it is a Haynesville well.  The well (Leonard Farms 32 #2-ALT, Exco Resources) is included on the detailed spreadsheet as new, but it should have been added several weeks ago. I've updated the table below retroactively, but I have not amended old posts. 

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