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Best wells drilled first
And while the overall natural gas rig count has plummeted, producers are ditching more rigs that drill vertically than ones drilling horizontally. Pursell said the horizontal rig count is down 40 percent, while the vertical rig count is down 64 percent.

“When times are tough, cash matters, and you’re trying to survive, you tend to keep drilling your best wells and you tend to try not to drill your worst wells. In simple terms, you drill your best stuff first,” he said.

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