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The number of natural gas drilling rigs working in the U.S. fell by 29 in the latest week to...

The number of natural gas drilling rigs working in the U.S. fell by 29 in the latest week to 389, near a 14-year low, while oil rigs climbed by 30 to 1,354, according to the latest Baker Hughes rig count. Gas rigs have shrunk to almost a fourth of their Sept. 2008 peak as a supply glut pushed prices to 10-year lows and drove energy producers toward more profitable oil and liquids-rich plays.
Comments (3)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    This strategy has worked in putting a floor on, and firming up, NG prices. Eventually though production rigs will need to be added back.
    28 Mar 2013, 03:11 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (6249) | Send Message
     
    Its going to cause a surge in prices. Why would any firm add a NG rig while oil is this high?
    28 Mar 2013, 03:55 PM Reply Like
  • pauliene
    , contributor
    Comments (195) | Send Message
     
    now you folks understand the problem. indeed, why add rigs for gas when the money is in oil?
    so, the price of gas will rise to the level needed to entice companies like Chesapeake to increase the search and production of gas
    5 Apr 2013, 10:33 AM Reply Like
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