Monday, March 5, 2012

U.S. NatGas Drilling Rig Count at 31-month Low (not enough to support gas)

Last I saw the futures were at $2.361, down 4.95% and closing in on the 10-year low set on Jan. 19 at $2.322

Via Energy Solutions:

Baker Hughes Weekly Rig Count
Week Ending March 2, 2012


U.S. Natural Gas Drilling Rig Statistics:
Current natural gas drilling rigs: 691
Change from last week:
-19
Active rig count one year ago:
899
Change from last year:
-208
Rig Peak (hit on 9/12/08): 1,606
Percentage decline from peak:    -57%
U.S. Oil Drilling Rig Statistics:
Current oil drilling rigs:
1,293
Change from last week:
+28
Active rig count one year ago:
801
Change from last year:
+492
 
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