Monday, June 15, 2015

Haynesville Shale Rig Count: +1 to 21

The Haynesville Shale rig count was up one last week to 21.  Louisiana held at 11 (Chesapeake was up one, J-W was down one) and Texas was up one to 10 (Sabine has a new rig).  The Sabine rig is interesting:  we've discussed the company's financial issues as recently as yesterday, but it seemed to have lost interest in drilling the Haynesville.  But we haven't seen an investor presentation from them since they combined with Forest Oil.  They've been in a distressed situation since last summer, so they have had other fish to fry instead of going to analyst meetings, therefore it's hard to say what they are up to from an operational perspective.

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