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Rising Oil Rig Count Could Impact Natural Gas Prices

Robert Scott
Rising Oil Rig Count Could Impact Natural Gas Prices

In 2008, the natural gas rig count made a record high of 1,606. From the record level in 2008, the natural gas rig count fell ~87.8% until May 4, 2018. Between January 2008 and February 2018, US natural gas marketed production rose 33.9%—based on the EIA’s monthly data. Since January 2008, natural gas active futures have fallen 65.2% to date. What’s behind the rise in natural gas supplies?