The price of crude appears to be on a down turn yet again. I was pretty sure I had seen it at almost $85/barrel earlier this week, but at the time of this report it is at $79.09/barrel and falling. The rig count has leveled off a little as well after a sizable increase the week prior. On the upside for consumers the price of gasoline has dropped nearly $.20 on average. The media has also started to pick up on the Utica Shale play, in part due to Chesapeake's drilling permits and schedule in the Ohio area. Looking today I don't see any major changes in the rig report in OH, but will watch to see if anything develops.
Rig Count
09/30/2011
USA: 1990
TX: 904 (+1)
LA: 148
OK: 196 (-2)
ND: 191(+1)
PA: 109
NM: 81
CO: 79 (+2)
WY: 55 (+3)
CA: 52
UT: 26
AK: 6
WV: 27
MT: 5
For the rig count in other states: Baker Hughes Rig Count by State 09/30/2011
New Applications to Drill
09/22/2011 through 09/29/2011
TX: 400
ND: 48
MT: 3
WY: 69
Gasoline Prices
09/30/2011
US Average: $3.470/gallon
US Low: SC $3.154/gallon
US High: HI $4.208/gallon
