Friday, March 16, 2012

U.S. Rig Count: +11 to 1,984

The Baker Hughes U.S. rig count showed an 11 rig increase, bringing the total number of rigs working last week to 1,984.  Oil rigs were up 21 to 1,317, gas rigs were down seven to 663 and miscellaneous rigs were down three to four.  663 gas rigs is just below the recent low achieved in July 2009.  By type, horizontal rigs were up 16 to 1,180, directional rigs were up 16 to 228 and vertical rigs were down 21 to 576.

Expect some significant changes in the upcoming Haynesville rig count as the combined north Louisiana/east Texas rig count dropped by eight.

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