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GasBuddy News Article

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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: U.S. Gas Rig Count Down 15 in Week to 422 - Baker Hughes Back to Topics
REPLIES (newest first) Post a Reply
bston
Champion Author Oklahoma City

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Message Posted: Oct 15, 2012 11:34:13 PM

Demand vs supply…
sljbc475
Champion Author Tucson

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Message Posted: Oct 14, 2012 11:35:29 PM

Conserve and use less this time of the year.
amerk73
Champion Author Dallas

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Message Posted: Oct 14, 2012 9:52:50 PM

good
drpepperTX
Champion Author Texas

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Message Posted: Oct 14, 2012 5:34:42 PM

LMAO.... nsdp what the heck is "natural gasoline"? Man, you get funnier with every post!!!
NedW
Champion Author Indianapolis

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Message Posted: Oct 14, 2012 2:18:06 PM

Thank you for Submitting, RENEGADEGAS.
nsdp
Champion Author San Antonio

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Message Posted: Oct 14, 2012 1:52:18 PM

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

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Message Posted: Oct 14, 2012 9:42:21 AM

Active rig count is not a valuable figure unless utilization of available rigs is very low or very high.
jcdakota
Champion Author Baltimore

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Message Posted: Oct 14, 2012 9:40:48 AM

So what's the bottom line?
DrZNY
Champion Author Albany

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Message Posted: Oct 14, 2012 9:34:07 AM

Sounds like another excuse for speculators to raise prices.
Wolfwings
Champion Author Delaware

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Message Posted: Oct 14, 2012 9:33:39 AM

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

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Message Posted: Oct 14, 2012 9:30:49 AM

If you can't sell it, store it, if you can't store it, stop pumping it.
Paw5X
Champion Author Gary

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Message Posted: Oct 14, 2012 9:29:18 AM

briinnc, that's funny, but unfortunately true!
puffy2hottie
Rookie Author Ontario

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Message Posted: Oct 14, 2012 9:29:02 AM

Interesting
briinnc
Champion Author North Carolina

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Message Posted: Oct 14, 2012 9:26:56 AM

Analysts say.... that's why analyst is spelled a-n-a-l---
fatboy97
Champion Author Twin Cities

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Message Posted: Oct 14, 2012 9:26:23 AM

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

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Message Posted: Oct 14, 2012 9:26:20 AM

Now we just need to start using all this NG domestically instead of exporting it.
kirzon484
Champion Author Atlanta

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Message Posted: Oct 14, 2012 9:25:03 AM

prices down, duh
dandvicb
Champion Author Bridgeport

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Message Posted: Oct 14, 2012 9:24:37 AM

up n up n up n up
Tutootin
Champion Author Toronto

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Message Posted: Oct 14, 2012 9:24:34 AM

It would help if we actually had stations supplying CNG. I have never seen even one anywhere up here.
paulp24
Champion Author Harrisburg

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Message Posted: Oct 14, 2012 9:24:20 AM

Lol -> jayrad1957
I10Express
Champion Author San Antonio

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Message Posted: Oct 14, 2012 9:23:37 AM

exporting oil so the count goes down
traumer
Champion Author Twin Cities

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Message Posted: Oct 14, 2012 9:23:17 AM

We just need to drill baby drill!
lightbulbman2008
Champion Author Worcester

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Message Posted: Oct 14, 2012 9:23:09 AM

interesting...
swepson
Champion Author Greensboro

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Message Posted: Oct 14, 2012 9:22:29 AM

Much of the new gas supplies are coming oil drillers. At the price of natural gas, no surprise.
yakstar
Champion Author Montreal

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Message Posted: Oct 14, 2012 9:22:07 AM

how about that Raul Ibanez?
RONALD777
Champion Author Houston

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Message Posted: Oct 14, 2012 9:21:48 AM

They need to fire up some rigs off the California coast.
WonderfulMI
Champion Author Michigan

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Message Posted: Oct 14, 2012 9:21:02 AM

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

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Message Posted: Oct 14, 2012 9:20:25 AM

to raise costs no doubt
Somis1
Champion Author Ventura

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Message Posted: Oct 14, 2012 9:20:01 AM

Agree with mberg; there is way less need for new natural production now.
MidNJ
Champion Author New Jersey

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Message Posted: Oct 14, 2012 9:20:00 AM

Seems like there are more magic votes pumping up Renegade's articles ---

Interesting, very very interesting!!
bowler360
Champion Author Illinois

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Message Posted: Oct 14, 2012 9:19:39 AM

Hmmm. Fracking and low gas prices are to blame. But, that's ok.
MG_Sputnik
Champion Author Philadelphia

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Message Posted: Oct 14, 2012 9:19:31 AM

More rigs pumping more oil that gets exported to other countries for higher profits.
paoli8
Champion Author Philadelphia

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Message Posted: Oct 14, 2012 9:18:26 AM

Waiting for demand to catch up
40mpgsaturn
Champion Author Wisconsin

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Message Posted: Oct 14, 2012 9:16:45 AM

They have to lower production so they can get prices up for winter!
mberg
Champion Author Houston

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Message Posted: Oct 14, 2012 9:16:44 AM

With our overproduction of natural gas, a drop in active rigs is entirely logical.
danlanman
Champion Author North Carolina

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Message Posted: Oct 14, 2012 9:16:43 AM

ok
JimVP
All-Star Author Chicago

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Message Posted: Oct 14, 2012 9:16:00 AM

Does not help us at the pump.
Wizrd03
Champion Author Illinois

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Message Posted: Oct 14, 2012 9:13:23 AM

With the gut of natural gas, this should have been expected
plbell627
Champion Author Dayton

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Message Posted: Oct 14, 2012 9:11:11 AM


Duh, I am confused.
WGW1
Champion Author British Columbia

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Message Posted: Oct 14, 2012 9:11:08 AM

stats can be confusing.
1998jimmy
All-Star Author West Virginia

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Message Posted: Oct 14, 2012 9:10:03 AM

OK WHAT NEXT???????
Titan_62
Champion Author North Carolina

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Message Posted: Oct 14, 2012 9:09:33 AM

k
peapaw
Champion Author Ohio

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Message Posted: Oct 14, 2012 9:09:16 AM

This article is confusing.

[Edited by: peapaw at 10/14/2012 10:10:05 AM EST]
radiorumor
Champion Author Texas

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Message Posted: Oct 14, 2012 9:08:04 AM

More important is who and how many are using NG
jayrad1957
Champion Author Los Angeles

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Message Posted: Oct 14, 2012 9:07:58 AM

I am shocked. Only 1 mention of Obama on the first page here.
The3rd
Champion Author Jacksonville

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Message Posted: Oct 14, 2012 9:07:31 AM

ok, this is tied to their profits.or lack of......
mikesr100
Champion Author Sacramento

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Message Posted: Oct 14, 2012 9:06:50 AM

OK!
ramman2012
Champion Author Edmonton

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Message Posted: Oct 14, 2012 9:06:18 AM

ok
slgas
Champion Author Houston

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Message Posted: Oct 14, 2012 9:06:12 AM

The two rig counts are about what I would expect.
bigLtowing
Champion Author Columbus

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Message Posted: Oct 14, 2012 9:06:03 AM

la tee freakin' da.!.!.!
Edpap
Champion Author Pennsylvania

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Message Posted: Oct 14, 2012 9:04:42 AM

just like crude, they won't produce until they get a price they are happy with. Non-producing wells should cede to the local municipalites if inactive for 24 months.
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