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Gas-Directed Drilling Continues To Hold 80% of the Total

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 gas.

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.

Rocco Canonica

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