The natural gas rig count declined again last week, falling by 15 to 422 vs. 936 a year ago. The...

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Stone Fox Capital Comments (4545)
 
Funny how the drop continues when future nat gas prices suggests rigs should start drilling again. Inventories are back close to the 5 yr avg yet nobody is increasing drilling.

Guess what, without a energy policy we'll end up with $6-7 gas before drilling picks up that will take months to make it to the market. Crazy stuff.
12 Oct 2012, 02:33 PM Reply Like

Exbuggywhipmaker Comments (75)
 
Obama wants expensive traditional energy prices so he can push his green alternatives and socialist nanny state agenda. I moved to the US from France and have seen all this first hand before.
12 Oct 2012, 06:27 PM Reply Like

gdonelson Comments (35)
 
The gas needs to be a minimum of $4+ in order to break even on the cost of drilling. Rig count is going down because shale wells are not profitable with sub $4/mcf prices. Another bubble...who would have figured?
12 Oct 2012, 03:43 PM Reply Like

David Urban Comments (1034)
 
No chance at a shortage. Rigs counts are a poor indicator of a shortage when you should be looking at storage rates.
12 Oct 2012, 05:39 PM Reply Like

rjj1960 Comments (1027)
 
To compare rig count to 1999 is ridiculous, one fracked well equals 10 conventional wells back then.
12 Oct 2012, 08:07 PM Reply Like

Baseline Ace Comments (41)
 
Gold bottomed in 1999. Natural gas in 2012.
12 Oct 2012, 10:26 PM Reply Like

JohnLocke Comments (381)
 
Those Rigs that went down were the NOMAC Rigs.

NOMAC = Chesapeake Energy

Chesapeake is sending its rigs to the yard for the winter.
13 Oct 2012, 03:24 PM Reply Like