Mar 05 2009
No. of Drill Rigs – U.S. Natural Gas
An article yesterday says that the number of rigs drilling for natural gas in the United States fell below 1,000 last week for the first time in nearly five years, and that the current gas rig total of 970 is the lowest number of gas rigs since March, 2004.
My Comments: I think this is a particularly interesting statistic to follow, what with the drop in natural gas prices since last summer. This reduction may auger well for natural gas prices on a demand/supply basis going forward. It may not auger so well for seismic companies in the near-term. I will continue to watch this statistic going forward.
Read the referenced article by clicking here.
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