Friday, May 25, 2012

Natural Gas Rig Count FALLS by 6 to 594

The front futures are down 10.3 cents at $2.544 and down 20.5 cents since we posted Natural Gas Rig Count UP in Latest Week and "It's Time to Short Natural Gas Again" last Friday:
The front futures are up 15.5 cents at $2.749.
From Reuters Africa:
The number of rigs drilling for natural gas in the United States fell by six to 594 this week, data from oil services firm Baker Hughes showed on Friday.

The number of oil drilling rigs rose by one in the latest week to a new 25-year high of 1,383, the report showed.

Horizontal rigs, the type most often used to extract oil or gas from shale, fell by two to 1,191.
More to come.