Friday, November 19, 2010

U.S. Rig Count: -8 to 1,677

The weekly Baker Hughes rig count showed an eight rig decrease to 1,677.  Since last week's figure of 1,685 was the high point for the past 12 months, rig counts are still pretty high.  Behind the numbers, gas rigs dropped by 19 to 936, which is 5.6% off the 12 month high point achieved in mid-August, while oil rigs increased by 11 to 731, the highest number for the past 12 months.  By type, there were eight fewer horizontal rigs, four fewer vertical rigs and four additional directional rigs working.

In the Haynesville region, inclusive of other formations, the rig count dropped by six to 186.  Working rigs were down five in north Louisiana (125) and down one in east Texas (61).

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