Friday, May 14, 2010

US Rig Count: +14 Total; -2 Natural Gas

The weekly Baker Hughes rig count showed an increase of 14 rigs nationally, bringing the total to 1,506, the highest level since January 23, 2009.  The gas rig count decreased by two to 951, still 43% higher than the recent low from July 2009.  The big increase was in oil rigs, which jumped by 16 to 544.  By type, horizontal rigs increased by 12, directional rigs increased by four and vertical rigs decreased by two. 

In the Haynesville Shale region, inclusive of other formations, the rig count increased by one to 213.  The count was steady in east Texas and up one in north Louisiana.

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