Gas-Directed Drilling Continues To Hold 80% of the Total
The industry's hunt for natural gas has gone way beyond the
search for oil and shows no signs of letting up. Gas directed
drilling has held a solid 80% of all U.S. drilling by rotary rigs
since mid-July. And last week the number of rotary rigs drilling
for gas leaped to 609 from 579 the week prior, while total rigs
rose to 750 from 721, the largest weekly gain since Nov. 28, 1997,
according to Baker Hughes. Oil-directed drilling declined during
the week by one rig to 139.
The number of rigs drilling in the U.S. last year at this time
totaled only 716, with 212 drilling for oil and 504 drilling for
Texas showed the lion's share of the improvement last week with
an increase of 12 rigs to 276, followed by Oklahoma with 10 more
rigs drilling for a total of 71, New Mexico with four more for a
total of 45 and Louisiana with one more rig for a total of 149. The
rig count in Wyoming dropped by two last week.
The number of rigs drilling in all of North America grew by 51
to 1,042, with Canada taking the largest percent increase, 8% (22
rigs) compared to 5% in the U.S. A total of 292 rigs are drilling
for gas and oil in Canada.
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