Friday, April 23, 2010

Rig Counts Down

The weekly Baker Hughes rig count showed a drop both nationally and in the Haynesville region.  Nationally, the rig count decreased by nine to 1,482.  Of the net nine decrease, gas-targeted rigs decreased by 17, while oil-targeted rigs increased by eight.  That seems more like it.  Last week saw the opposite effect, which was confusing given the price environment.  By rig type, vertical rigs decreased by eight and horizontal rigs decreased by one. 

In the Haynesville region, inclusive of other formations, the rig count dropped by three to 214.  North Louisiana saw a six rig decrease, while east Texas saw a three rig increase, in furtherance of the trend started a month ago.

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