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diverdog
9/15/2012, 05:39 AM
HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the U.S. remained unchanged this week at 1,864.
Houston-based oilfield services company Baker Hughes reported Friday that 1,413 rigs were exploring for oil and 448 were searching for gas. Three were listed as miscellaneous. A year ago, Baker Hughes listed 1,985 rigs.
Of the major oil- and gas-producing states, Texas gained nine rigs, Colorado gained three and Oklahoma gained two.
California and Louisiana each lost four rigs, New Mexico, North Dakota and Wyoming each lost three and Pennsylvania lost one.
Alaska, Arkansas and West Virginia were unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
okie52
9/15/2012, 08:28 AM
What's interesting about it?
Petro-Sooner
9/15/2012, 12:54 PM
I wonder how many are in Kansas.
Skysooner
9/15/2012, 02:38 PM
I wonder how many are in Kansas.

The article doesn't quite state it, but it is primarily the move from gas into oil. These numbers are skewed just a bit though. Many of the "oil" rigs are still in primarily gas dominated plays at this point. We have it at about 1000 oil and 850 gas. Still there will be a gas supply falloff if this count continues for at least 18 months.
diverdog
9/15/2012, 05:18 PM
What's interesting about it?

I would have thought there would have been more activity.
okie52
9/15/2012, 05:33 PM
The article doesn't quite state it, but it is primarily the move from gas into oil. These numbers are skewed just a bit though. Many of the "oil" rigs are still in primarily gas dominated plays at this point. We have it at about 1000 oil and 850 gas. Still there will be a gas supply falloff if this count continues for at least 18 months.

Probably not a bad time to play ng futures.
okie52
9/15/2012, 05:38 PM
I would have thought there would have been more activity.

NG drilling has been greatly reduced the last 1 1/2. Probably stay that way until the price gets above $4 an MCF.
Skysooner
9/15/2012, 05:39 PM
The article doesn't quite state it, but it is primarily the move from gas into oil. These numbers are skewed just a bit though. Many of the "oil" rigs are still in primarily gas dominated plays at this point. We have it at about 1000 oil and 850 gas. Still there will be a gas supply falloff if this count continues for at least 18 months.

Probably not a bad time to play ng futures.

Look at 4-6 for 2013.
okie52
9/15/2012, 05:43 PM
Look at 4-6 for 2013.

$6 would be great.

You got an idea what the lag time is from drilling ramp up to Inventory surpluses?
Skysooner
9/15/2012, 06:04 PM
Look at 4-6 for 2013.

$6 would be great.

You got an idea what the lag time is from drilling ramp up to Inventory surpluses?

18 months but the huge variable is the uncompleted inventory in the Marcellus. There are lots of wells up there that when completed will keep supply flat.
okie52
9/15/2012, 06:18 PM
18 months but the huge variable is the uncompleted inventory in the Marcellus. There are lots of wells up there that when completed will keep supply flat.

They'd still have to be drilled though...theyre not just shutin....but yeah, there's a lot of them waiting to be plucked.