Oil and Gas by the Numbers 03/25/2011

Good Afternoon! There are lots of new things going on in the oil and gas world this week.  The price of oil this afternoon is currently at $105.13/barrel.  I am interested to see what impact the new permits in the Gulf will have on future oil prices.  I am also watching the new list of permits requested in the Niobrara on the Wyoming side of the formation.  National rig count is up again by a total of 18 rigs. That is about twice the jump we have seen so far this month.

Rig Count

updated 03/25/11

• United States Total:  1738 (an increase of 18 rigs from last week)
• TX: 766
• LA: 176
• OK: 156
• ND: 155
• PA: 104
• NM: 77
• CO: 71
• WY: 38
• CA: 42
• AK: 6

For more information and other state counts please check out: Baker Hughes - Rig Count

Permits Issued for Drilling

03/18/11 thru 03/24/11

TX: 525 (approved new drill permits)

ND: 31 (snow storm shut down whole state, may have dropped numbers for one day)

MT: no new numbers reported

CA: no new numbers reported

WY: 85 (oil/gas and CBM)

Gasoline Prices

03/24/11

National Average: $3.556/gal

US Low: WY $3.318/gal

US High: HI $4.247/gal