From The Haynesville Shale blog:
The Baker Hughes U.S. rig count was down 13 rigs this week to 1,826. Oil rigs were down two to 1,408, gas rigs were down 11 to 416 and miscellaneous rigs held at two. By type, horizontal rigs were down nine to 1,105, vertical rigs were down 13 to 512 and directional rigs were up nine to 209. Among gas rigs, horizontal rigs were down 12 to 275, directional rigs were up two to 73 and vertical rigs were down one to 68.The most interesting thing in gas right now is the monster contango between the soon-to-expire November's and the December which is trading at $3.73, 35 cents or 10.3% higher.
That's steep.
