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Linn Energy, LLC (LINE) Message Board

  • rlp2451 rlp2451 Dec 9, 2012 9:39 AM Flag

    US Rig Counts Dropping

    The US drilling rig count decreased 11 units during the week ended Dec. 7, with the total number of rotary rigs reaching 1,800, Baker Hughes Inc. reported. This compares with 1,987 rigs working in the comparable week last year.

    Land-based drilling rigs fell 9 units to 1,732, while offshore rigs dropped 2 to 48 units working. Rigs drilling in inland waters were unchanged this week at 20 units. Of those rigs drilling offshore, 48 were in the Gulf of Mexico, unchanged from a week ago.

    Rigs targeting natural gas fell 7 units, reaching 417. Rigs targeting oil decreased by 4 units to 1,382. There was 1 rig unclassified, unchanged from a week ago.

    Rigs drilling directionally were reported at 191, down 2 rigs from a week ago and 26 fewer than the comparable week last year. The number of rigs drilling horizontally was down by 7 rigs, reaching 1,103. This compares with 1,151 in the comparable week a year ago.

    Of the major oil and gas producing states, Alaska lost 4 rigs to reach 4 units working. North Dakota was down 3 rigs this week to 173. Texas and New Mexico were both off 2 units to respective counts of 853 and 73. Louisiana and Ohio, at 117 and 25, respectively, were down 1 rig each. Four states were unchaged: Oklahoma, 188; Wyoming, 49; California, 31; and West Virginia, 26. Three states were up 1 rig each, namely Pennsylvania, 71; Colorado, 57; and Arkansas, 17.

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    • Let us remember the always wrong way and direction RLP was recently claiming the Obama election would have no impact of the drillers capital investment programs or activity.

      Posting all sorts of deception about corn ethanol for years.

      • 1 Reply to norrishappy
      • As expected the Mondak oil field review has slightly different numbers for North Dakots at about 9 more that what was posted. They also report on Montana and South dakota....so their total for that area was at 213 rigs. I think that show with their rig count was from sometime during the week.

        This below looked fairly recent also..........and, Please NOTICE THE LAST PARAGRAPH:

        "Dec. 7, 2012, 7:43 a.m. EST

        Baker Hughes: Int'l rig count up 6.9% in November

        Baker Hughes Inc said its international rig count for November rose 0.6% from the prior month and 6.9% from a year ago to 1,267.

        The international offshore rig count for November was 300, versus 306 the prior month and 302 in the year-ago period.

        The average U.S. rig count for November was 1,809, down from 1,834 in October and from 2,011 in November 2011. Meanwhile, the average Canadian rig count for November 2012 was 384, versus 365 the prior month and 487 in November.

        The worldwide rig count for November was 3,460, up a hair from 3,458 in October but down from 3,683 in November 2011.

        Producers have largely been retreating from natural-gas drilling as the commodity's prices languish near 10-year lows. Oil and gas companies have been shifting their production to oil-rich shale, unlocking the energy trapped in vast shale formations in the U.S. and elsewhere. "

    • interesting if you invested in rig stocks but has nada to do with LINE. yes natural gas, dry especially, drilling is going down. good for prices of natural gas longer term

 
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