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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (156337)9/1/2011 8:56:59 PM
From: Dennis Roth2 Recommendations  Read Replies (1) of 206092
 
Natural Gas Weekly
U.S. Horizontal Natural Gas Rig Count Hovers Near All-Time High
1 September 2011 ¦ 10 pages
citigroupgeo.com

U.S. Natural Gas Rig Count Update – Although down 21 year to date, the total U.S.
natural gas rig count is almost at a six-month high driven by a rebound in the horizontal
natural gas rig count which is nearly back to its all-time high reached last November.
Horizontal rigs represent just over 70% of all currently active domestic natural gas rigs.
Interestingly, over the past two months, nearly 30 additional horizontal natural gas rigs
have been put to work at the same time that natural gas prices dropped to below
$4.00/MMBtu from roughly $4.50/MMBtu. After bottoming in early March this year, the
domestic horizontal natural gas rig additions have been most prominent in the Texas
and Oklahoma Wash plays and in the Marcellus shale while, as anticipated, activity in
the dry-gas Haynesville shale play has declined sharply. Thus, the Marcellus shale and
the Texas/Oklahoma Wash plays are both on track to very shortly overtake the
Haynesville as the most active natural gas shale or unconventional plays in the U.S.
With regard to our supply models, we now expect the U.S. natural gas rig count will
continue to slowly increase throughout the rest of this year.
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