The last few days have hinted at a breakout for XCO , Keep an eye on the rig counts , The dry gas drillers have continued to switch to oily and wet gas areas. As long as that trend continues gas prices with go higher.
“ For the second straight week, the Haynesville Shale rig count was down a rig, this week dropping one rig to 22. Texas was down two rigs (Chesapeake and XTO Energy) to seven, while Louisiana was up one rig (that same Chesapeake rig) to 15. Seven Texas rigs is tied for the lowest number (with November 30, 2012) since I began the Haynesville rig count in January 2010. Right now, only Anadarko (5 rigs) and XTO (2 rigs) are drilling the Texas side of the Haynesville.”