Rig Report

Is Drilling Activity in New Shale Fields Spured by Lease Expirations?

Emerging Shale Plays Forecasted To Lower LNGs Utilization Rates, According To Senior Vice President Of Natural Resources. Why is the gas rig count still rising when gas prices are low and supply remains high? The answer may be that some lease holders have no choice. They can not sit on their leases, it is drill [...]

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New Research Questions Haynesville Shale Economics

Energy Tribune- New Research Questions Haynesville Shale Economics. The US reserves of natural gas have sky rocketed in recent years due to the development of shale gas. One of the monster new fields is Haynesville located in northwest Louisiana. However some recent research questions if Haynesville is as big a field as originally thought. Last [...]

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Oil rig count down but gas rig count continues to rise

Baker Hughes: US Oil, Gas Rig Count Down 1 To 1,345. NEW YORK -(Dow Jones)- The number of rigs drilling for oil in the U.S. slipped this week, but the gas rig total rose as producers continued to ramp up output in response to higher prices. The number of oil and gas rigs fell to [...]

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Natural-Gas ‘Pipe Dream’ Won’t Reduce Supply Glut

Natural-Gas ‘Pipe Dream’ Won’t Reduce Supply Glut (Update1) – BusinessWeek. More bearish forecasts for natural gas in 2010. U.S. wells pumped 60.577 billion cubic feet of gas a day in November, the highest for that month since 1973, the Energy Department said in a Jan. 29 report. The figure represented a 208 million-cubic-foot daily gain [...]

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Natural Gas Producers: Is There Profitless Prosperity Ahead?

Natural Gas Producers: Is There Profitless Prosperity Ahead? — Seeking Alpha. Alan Brochstein has a  cautionary post for those who are bullish on natural gas stocks. Perhaps he is too bearish? Maybe but it is clear that supply has been growing much faster than demand and that the gas rig count keeps going up. So, [...]

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DRILLING MARKET FOCUS: Drillers cautiously optimistic about climbing oil prices – Oil & Gas Journal

Drillers cautiously optimistic about climbing oil prices – Oil & Gas Journal. According to the Oil Journal article, RBC forecasts crude oil prices of $80 for 2010 and $90 for 2011. Natural gas prices of $6 in 2010 and $6.50 in 2011.  $80 to $90 oil is good for oil drillers but I think NG [...]

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The Century for Natural Gas: What This Means for Investors

The Century for Natural Gas: What This Means for Investors — Seeking Alpha. A critical point is that unconventional wells take much more servicing than conventional wells. For example advanced wells can involve multiple fracturing jobs. Much of the new gas production has come from unconventional gas and gas shale. Of course,  these more expensive wells mean that [...]

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U.S. natural gas price forecasts hold steady for 2010

U.S. natural gas price forecasts hold steady for 2010 | Edmonton Journal. Energy analysts kept their forecasts for U.S. natural gas prices this year nearly steady from last quarter after a six-week cold snap this winter lifted demand and sharply cut inventories from the record highs seen at the start of the heating season. After [...]

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The Oil Drum – January 2010 US Natural Gas Update

The Oil Drum | January 2010 US Natural Gas Update. Natural gas prices continue their recovery. Cold weather has caused high levels of space heating that have resulted in reduced gas storage inventories. Henry Hub spot prices have recovered from their September $2.18 low to an average price of $5.56/MMbtu in the week ending January [...]

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Gas Rig Count Hits 10-Month High

Via Zacks Investment Research - [R]igs exploring and producing in the U.S. totaled 1,248 during the week. This is up by 28 from the previous week’s tally and represents the 12th gain in the past 13 weeks. The current nationwide rig count is 42% higher than the 2009 low of 876 (set in the week ended [...]

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