Replies to This Discussion

Oil & Gas ProPermalink Reply by dbob on April 18, 2012 at 3:28

Thanks Les

 

From what I'm hearing, the Haynesville (Texas and Louisiana) may be down to less than 20 rigs by December of this year.

 

• ▶ Reply

landownerPermalink Reply by little ole 1st grade teacher on April 22, 2012 at 6:07

Where are you getting this information about (Texas and Louisiana) going down to less than 20 rigs?  And, are they saying what is going to cause these rig counts to go down? 

I was hoping that they were going to start leasing again.

• ▶ Reply

Oil & Gas ProPermalink Reply by Les Bamburg on April 22, 2012 at 11:27

LOFGST, natural gas prices are likely to stay low for the next couple of years due to the situation with natural gas supply and storage levels.  Operators have been shifting capital dollars, drilling rigs and manpower resources from dry gas drillig to oily and/or rich gas plays.

• ▶ Reply

Oil & Gas ProPermalink Reply by dbob on April 22, 2012 at 6:59

Little ole teacher - what I'm hearing is that most folks will have their leasehold held by December of this year, they are planning on putting rigs and capital in areas where they might capture new lease hold and find liquids.  20 is the guess for Haynesville.  Cotton Valley make equal or better it by that point in time.  If I had to put a guess on it, TMS will have more rigs than Haynesville by that point as well.  

Look at the trend on the on the graph Les B posted - ought to be to less than 20 drilling permits/month soon, and the rig count will follow it down.

• ▶ Reply