Oil and Gas by the Numbers 08/26/2011

I start by apologizing for such a long absence.  There are still parts of rural America that broadband is a long way from reaching. The telephone poles and pipelines are however continuing to cross more of once bare land as the domestic oil push continues.  The oil prices seem to be holding today at $85.33/barrel on the WTI, and natural gas currently sits at $3.92.  The next couple of months will be interesting to watch with our seasonal changes in the markets coming up and the government involvement in a lot of things oil and gas.  Some of you might also be interested to see a small flurry of activity in the permit department in MT this last week.

Rig Count

USA Total: 1975    +1 from last week
TX             896     +3
OK            195
ND            179     +3
LA             158
PA             113     +3
NM             88
CO              76
WY             51
CA              49
UT               27
WV             20
AK                7    +1
MT                6

Approved Permits

08/19/11 thru 08/25/11

TX      320

ND       66

MT       10 New, 5 reissued

CA        No update since 08/13/11

WY       55 (4 in the Niobrara formation)

Gasoline Prices

08/26/2011

US Average:  $3.604/gal

US Low: AZ  $3.329/gal

US High:  HI   $4.110/gal

For a printer friendly copy of the report above please go to: Oil and Gas by the Numbers 08/26/11