Oil and Gas by the Numbers 04/01/2011

Good Afternoon!  The oil and gas industry seems to be on up swing this week.  Crude prices are up, rig counts are up, permits numbers submitted are up, and of course gasoline prices are up.  I have to wonder when we will see the top of the climb and settle in for a strong but steady pace that we can maintain. As of 11:30 AM the price of WTI crude was a whopping $107.55/barrel.  With that in mind here are the rest of the numbers for the week:

Rig Count

updated 04/01/11

• United States Total:  1776 (an increase of 38 rigs from last weeks total)
• TX:  770
• LA:  175
• OK:  175
• ND:  159
• PA:  104
• NM:  78
• CO:  72
• WY:  40
• CA:  41
• MT:  11
• AK:  6

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

Permits Issued for Drilling

03/25/11 thru 03/31/11

TX:  269 (approved new drill permits)
ND: 34
MT:  2 new, 3 reissued (this is prior weeks data)
CA:  nothing new released
CO:  After a flurry of activity earlier this month there appears to be no new permits issued.
WY: 42

Gasoline Prices

04/01/11

National Average:  $3.611/gal
US Low:  WY $3.373/gal
US High:  HI $4.304/gal