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U.S. Gas Rig Count Down 15 in Week to 422 - Baker Hughes

Dow Jones Newswires --
The number of natural-gas drilling rigs working in the U.S. fell by 15 this week to 422, according to oil-field-services company Baker Hughes Inc. (BHI) Friday.

The figure is down 514 from a year-ago level of 936.

The oil-rig count rose by 13 to 1,411 in the week. The number of working oil rigs is up 331 from a year ago.

The number of working gas rigs is the lowest since June 11, 1999. Designated gas rigs account for just 23% of current operating rigs, the lowest on record since Baker Hughes began reporting separate oil and gas drilling rig figures in July 1987.

Still, analysts said the drop in the gas rig count doesn't necessarily signal a coming large-scale drop in gas output, due to high drilling activity in oil wells that also yield high gas volumes.

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Submitted Oct 14, 2012 By: RENEGADEGAS

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bston Champion Author Oklahoma City Posts:1,835 Points:645,200 Joined:Mar 2011	Message Posted: Oct 15, 2012 11:34:13 PM Ignore bston Report Abuse Demand vs supply…
sljbc475 Champion Author Tucson Posts:4,235 Points:875,300 Joined:Dec 2010	Message Posted: Oct 14, 2012 11:35:29 PM Ignore sljbc475 Report Abuse Conserve and use less this time of the year.
amerk73 Champion Author Dallas Posts:7,065 Points:1,624,005 Joined:Oct 2008	Message Posted: Oct 14, 2012 9:52:50 PM Ignore amerk73 Report Abuse good
drpepperTX Champion Author Texas Posts:8,973 Points:756,210 Joined:Apr 2011	Message Posted: Oct 14, 2012 5:34:42 PM Ignore drpepperTX Report Abuse LMAO.... nsdp what the heck is "natural gasoline"? Man, you get funnier with every post!!!
NedW Champion Author Indianapolis Posts:5,630 Points:1,145,170 Joined:Mar 2008	Message Posted: Oct 14, 2012 2:18:06 PM Ignore NedW Report Abuse Thank you for Submitting, RENEGADEGAS.
nsdp Champion Author San Antonio Posts:1,117 Points:47,340 Joined:Jun 2012	Message Posted: Oct 14, 2012 1:52:18 PM Ignore nsdp Report Abuse What Fox doesn't tell us in their manufactured story is that the drop in new NG is because Anadarko and KinderMorgan will be starting up NGL plants to remove ethane, propane , butane and natural gasoline from the natural gas stream for chemical use instead of letting the NGLs go to boiler s. Old saying "Figures don't lie, liars figure".
cheapertvs Champion Author Richmond Posts:10,300 Points:2,744,645 Joined:Jan 2004	Message Posted: Oct 14, 2012 9:42:21 AM Ignore cheapertvs Report Abuse Active rig count is not a valuable figure unless utilization of available rigs is very low or very high.
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Oct 14, 2012 9:40:48 AM Ignore jcdakota Report Abuse So what's the bottom line?
DrZNY Champion Author Albany Posts:2,574 Points:824,710 Joined:Jan 2009	Message Posted: Oct 14, 2012 9:34:07 AM Ignore DrZNY Report Abuse Sounds like another excuse for speculators to raise prices.
Wolfwings Champion Author Delaware Posts:8,755 Points:1,779,390 Joined:May 2004	Message Posted: Oct 14, 2012 9:33:39 AM Ignore Wolfwings Report Abuse But, HOW MANY UNUSED RIGS have been removed? Abandoned rigs can rust out and send billions of gallons of crude into the ocean.
StephenOM Champion Author Ocala Posts:2,603 Points:1,299,495 Joined:Aug 2008	Message Posted: Oct 14, 2012 9:30:49 AM Ignore StephenOM Report Abuse If you can't sell it, store it, if you can't store it, stop pumping it.
Paw5X Champion Author Gary Posts:9,913 Points:2,270,230 Joined:May 2005	Message Posted: Oct 14, 2012 9:29:18 AM Ignore Paw5X Report Abuse briinnc, that's funny, but unfortunately true!
puffy2hottie Rookie Author Ontario Posts:82 Points:162,615 Joined:Feb 2008	Message Posted: Oct 14, 2012 9:29:02 AM Ignore puffy2hottie Report Abuse Interesting
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Oct 14, 2012 9:26:56 AM Ignore briinnc Report Abuse Analysts say.... that's why analyst is spelled a-n-a-l---
fatboy97 Champion Author Twin Cities Posts:2,499 Points:1,710,500 Joined:Aug 2007	Message Posted: Oct 14, 2012 9:26:23 AM Ignore fatboy97 Report Abuse Who cares??? If they sell more of this or that, the BIG OIL or BIG GAS companies will setup more of those rigs.
goalie1950 Champion Author Phoenix Posts:6,425 Points:1,299,345 Joined:Oct 2009	Message Posted: Oct 14, 2012 9:26:20 AM Ignore goalie1950 Report Abuse Now we just need to start using all this NG domestically instead of exporting it.
kirzon484 Champion Author Atlanta Posts:1,881 Points:436,210 Joined:Jun 2011	Message Posted: Oct 14, 2012 9:25:03 AM Ignore kirzon484 Report Abuse prices down, duh
dandvicb Champion Author Bridgeport Posts:1,243 Points:1,079,655 Joined:Jul 2004	Message Posted: Oct 14, 2012 9:24:37 AM Ignore dandvicb Report Abuse up n up n up n up
Tutootin Champion Author Toronto Posts:10,136 Points:3,080,355 Joined:Jun 2004	Message Posted: Oct 14, 2012 9:24:34 AM Ignore Tutootin Report Abuse It would help if we actually had stations supplying CNG. I have never seen even one anywhere up here.
paulp24 Champion Author Harrisburg Posts:4,557 Points:825,250 Joined:Dec 2010	Message Posted: Oct 14, 2012 9:24:20 AM Ignore paulp24 Report Abuse Lol -> jayrad1957
I10Express Champion Author San Antonio Posts:8,684 Points:1,642,895 Joined:Nov 2008	Message Posted: Oct 14, 2012 9:23:37 AM Ignore I10Express Report Abuse exporting oil so the count goes down
traumer Champion Author Twin Cities Posts:5,389 Points:1,341,375 Joined:Aug 2006	Message Posted: Oct 14, 2012 9:23:17 AM Ignore traumer Report Abuse We just need to drill baby drill!
lightbulbman2008 Champion Author Worcester Posts:416,000 Points:1,590,560 Joined:Oct 2008	Message Posted: Oct 14, 2012 9:23:09 AM Ignore lightbulbman2008 Report Abuse interesting...
swepson Champion Author Greensboro Posts:5,483 Points:1,554,600 Joined:Jul 2008	Message Posted: Oct 14, 2012 9:22:29 AM Ignore swepson Report Abuse Much of the new gas supplies are coming oil drillers. At the price of natural gas, no surprise.
yakstar Champion Author Montreal Posts:2,440 Points:482,895 Joined:Jan 2012	Message Posted: Oct 14, 2012 9:22:07 AM Ignore yakstar Report Abuse how about that Raul Ibanez?
RONALD777 Champion Author Houston Posts:2,452 Points:366,655 Joined:Nov 2007	Message Posted: Oct 14, 2012 9:21:48 AM Ignore RONALD777 Report Abuse They need to fire up some rigs off the California coast.
WonderfulMI Champion Author Michigan Posts:11,665 Points:1,789,835 Joined:Jun 2008	Message Posted: Oct 14, 2012 9:21:02 AM Ignore WonderfulMI Report Abuse They cannot make any money selling the gas they already have, how could they pay for more rigs? Why would they pay for more rigs. A classic case of overproduction driving prices below production costs. This has happened to farmers before.
MrLuigi Champion Author Massachusetts Posts:4,788 Points:969,610 Joined:Jun 2005	Message Posted: Oct 14, 2012 9:20:25 AM Ignore MrLuigi Report Abuse to raise costs no doubt
Somis1 Champion Author Ventura Posts:13,701 Points:2,617,700 Joined:Jul 2005	Message Posted: Oct 14, 2012 9:20:01 AM Ignore Somis1 Report Abuse Agree with mberg; there is way less need for new natural production now.
MidNJ Champion Author New Jersey Posts:7,569 Points:1,175,050 Joined:Sep 2009	Message Posted: Oct 14, 2012 9:20:00 AM Ignore MidNJ Report Abuse Seems like there are more magic votes pumping up Renegade's articles --- Interesting, very very interesting!!
bowler360 Champion Author Illinois Posts:1,990 Points:502,700 Joined:Jun 2011	Message Posted: Oct 14, 2012 9:19:39 AM Ignore bowler360 Report Abuse Hmmm. Fracking and low gas prices are to blame. But, that's ok.
MG_Sputnik Champion Author Philadelphia Posts:7,320 Points:1,963,330 Joined:Apr 2006	Message Posted: Oct 14, 2012 9:19:31 AM Ignore MG_Sputnik Report Abuse More rigs pumping more oil that gets exported to other countries for higher profits.
paoli8 Champion Author Philadelphia Posts:7,096 Points:1,823,420 Joined:Jul 2007	Message Posted: Oct 14, 2012 9:18:26 AM Ignore paoli8 Report Abuse Waiting for demand to catch up
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Oct 14, 2012 9:16:45 AM Ignore 40mpgsaturn Report Abuse They have to lower production so they can get prices up for winter!
mberg Champion Author Houston Posts:3,822 Points:963,305 Joined:Aug 2010	Message Posted: Oct 14, 2012 9:16:44 AM Ignore mberg Report Abuse With our overproduction of natural gas, a drop in active rigs is entirely logical.
danlanman Champion Author North Carolina Posts:3,347 Points:725,385 Joined:May 2011	Message Posted: Oct 14, 2012 9:16:43 AM Ignore danlanman Report Abuse ok
JimVP All-Star Author Chicago Posts:632 Points:156,460 Joined:Sep 2011	Message Posted: Oct 14, 2012 9:16:00 AM Ignore JimVP Report Abuse Does not help us at the pump.
Wizrd03 Champion Author Illinois Posts:8,167 Points:1,635,260 Joined:Oct 2008	Message Posted: Oct 14, 2012 9:13:23 AM Ignore Wizrd03 Report Abuse With the gut of natural gas, this should have been expected
plbell627 Champion Author Dayton Posts:5,158 Points:1,205,205 Joined:Mar 2007	Message Posted: Oct 14, 2012 9:11:11 AM Ignore plbell627 Report Abuse Duh, I am confused.
WGW1 Champion Author British Columbia Posts:1,262 Points:393,140 Joined:Jun 2010	Message Posted: Oct 14, 2012 9:11:08 AM Ignore WGW1 Report Abuse stats can be confusing.
1998jimmy All-Star Author West Virginia Posts:828 Points:2,371,945 Joined:Dec 2005	Message Posted: Oct 14, 2012 9:10:03 AM Ignore 1998jimmy Report Abuse OK WHAT NEXT???????
Titan_62 Champion Author Maryland Posts:1,473 Points:332,030 Joined:Apr 2011	Message Posted: Oct 14, 2012 9:09:33 AM Ignore Titan_62 Report Abuse k
peapaw Champion Author Ohio Posts:4,056 Points:691,695 Joined:Jun 2011	Message Posted: Oct 14, 2012 9:09:16 AM Ignore peapaw Report Abuse This article is confusing. [Edited by: peapaw at 10/14/2012 10:10:05 AM EST]
radiorumor Champion Author Texas Posts:2,827 Points:757,535 Joined:Feb 2011	Message Posted: Oct 14, 2012 9:08:04 AM Ignore radiorumor Report Abuse More important is who and how many are using NG
jayrad1957 Champion Author Los Angeles Posts:19,680 Points:1,600,415 Joined:Nov 2008	Message Posted: Oct 14, 2012 9:07:58 AM Ignore jayrad1957 Report Abuse I am shocked. Only 1 mention of Obama on the first page here.
The3rd Champion Author Jacksonville Posts:2,881 Points:828,660 Joined:Jul 2004	Message Posted: Oct 14, 2012 9:07:31 AM Ignore The3rd Report Abuse ok, this is tied to their profits.or lack of......
mikesr100 Champion Author Sacramento Posts:3,907 Points:1,083,640 Joined:Apr 2008	Message Posted: Oct 14, 2012 9:06:50 AM Ignore mikesr100 Report Abuse OK!
ramman2012 Champion Author Edmonton Posts:2,318 Points:495,885 Joined:May 2011	Message Posted: Oct 14, 2012 9:06:18 AM Ignore ramman2012 Report Abuse ok
slgas Champion Author Houston Posts:6,045 Points:1,565,465 Joined:Oct 2008	Message Posted: Oct 14, 2012 9:06:12 AM Ignore slgas Report Abuse The two rig counts are about what I would expect.
bigLtowing Champion Author Columbus Posts:2,854 Points:595,490 Joined:Aug 2011	Message Posted: Oct 14, 2012 9:06:03 AM Ignore bigLtowing Report Abuse la tee freakin' da.!.!.!