Sunday, August 28, 2011

Haynesville Shale Rig Count: -5 to 114

The weekly Haynesville Shale count of working rigs dropped by five to 114.  Texas was down one to 34, while Louisiana was down four to 80.  The spreadsheet and maps are updated.  

Overall, the count continues to drop.  The weekly number is not particularly telling since it reflects the ups and downs of rig movements, but the general trend is downhill.  Six months ago, there were 148 working rigs in the play.  That figure has dropped by 46% to 114.  

It's interesting to see is the migration of a couple of companies across state lines.  Chesapeake had nearly all of its rigs in Louisiana not so long ago.  Now it has 19 in Louisiana and six in Texas.  XTO is spending more time in Louisiana with three working rigs, while it has six in Texas.  

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