The U.S. natural gas rig count held steady at 120 for the week ended Friday (Dec. 29), while the overall domestic drilling total nudged two units higher to 622 amid gains in oil activity, according to the latest numbers from Baker Hughes Co. (BKR).
Land drilling increased by one rig domestically for the period, with one rig also added in the Gulf of Mexico. Horizontal drilling increased by two rigs, with directional rigs and vertical rigs unchanged overall.
The combined 622 active U.S. rigs as of Friday compares with 779 rigs running a year ago, according to the BKR numbers, which are based partly on data from Enverus.
Canada’s rig count saw steep declines for the week, dropping to 86, in line with a year-earlier count of 84. Declines included 54 oil-directed rigs and...
Weekly natural gas cash prices gained ground on the back of strong gains in West Texas in a week that was marked by stronger LNG feed gas flows and modestly higher weather-driven demand. NGI’s Weekly Spot Gas National Avg. for the April 22-26 trading period climbed 9.5 cents to $1.230/MMBtu. Among the top weekly gainers,…