Friday, June 24, 2011

Haynesville Shale Rig Count: -4 to 123

The weekly Haynesville Shale rig count lost four this week, bringing the number of rigs working the Haynesville Shale down to 123.

As the Haynesville rig count continues its gradual slide, it is interesting to see where the rigs are now drilling the shale (below), or more precisely where they are not drilling (i.e. Harrison, Panola and Rusk counties, TX) (map link).


Tom said...

I expect EXCO to over half the number of rigs working in the H/B over the next couple of quarters. The are burning thru cash and the BG carry cash is depleted for the H/B region. Year over year cash flow decreased about 25% or more while production increased by over 40% if I remember right. One of these days the jig will be up for Miller.

CHK also is almost done with drilling for HBP reasons. I suspect they will continue to reduce the number of rigs.

The second quarter conference calls will be interesting.

No cure for low nat gas prices like low nat gas prices.

Tom said...

Stop the madness fire Mr. Miller. He just reduced his offer after he burnt thru all the BG carry cash. Lay down those rigs in the Haynesville. It is coming.