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Baker Hughes rig count

Natural Gas Monthly Production On Cusp of Real Decline?

The July release of the Energy Information Administration's monthly gross natural gas production data collected from its Form 914 survey of producers shows a meaningful decline for May's production compared to April's revised production estimate.  May production was initially estimated at 62.24 billion cubic feet per day (Bcf/d), down 0.8% from April's revised production estimate of 63.35 Bcf/d.  Many analysts have latched on to this data as a sign that the industry's gas drilling cutbacks are beginning to show meaningful production reductions that will lead to higher natural gas

Rig Count Drop Now In New Territory

Friday's release of the Baker Hughes rig count data for North America indicates that this industry correction is now in uncharted territory.  For the week ending March 6, 2009, BHI puts the number of working drilling rigs in the U.S. at 1,170, down 73 rigs from the prior week.  =>Continue Reading

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