Friday, January 14, 2011

U.S. Rig Count: Unchanged at 1,700

The weekly Baker Hughes U.S. rig count was unchanged for the week, holding at 1,700.  While quiet at the surface, there was a net exchange of 12 gas rigs for oil rigs, as the number of gas rigs fell by 12 and the number of oil rigs gained 12.  By type, there was an increase of eight directional rigs and one horizontal rig, while the number of vertical rigs dropped by nine.

In the Haynesville Shale region, inclusive of other formations, the rig count dropped by two to 176, with a one rig increase in north Louisiana to 121 and a three rig decrease in east Texas to 55.  The regional count hasn't been this low since December 11, 2009.

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