Oil and Gas by the Numbers 09/30/2011

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

Oil and Gas by the Numbers 09/09/11

As the stock markets start to slide today we can see a change in the commodities. Oil is at $87.29 /barrel currently, and slowly climbing. While I have yet to read through the speech from the president I have heard the buzz all over town, everyone wants to know how it will affect the current oil shale boom.  Obama's plan is now on my things to read list.  At any rate the industry has pulled up the reins just a little ahead of this news. The US rig count has dropped as well as the new applications to drill.  One might look at the holiday impact for numbers dropping over the last week also, the recent weather systems have impacted the crude stockpiles, giving the market room for a rise in the price of oil.

Rig Count

09/09/2011

USA:   1958  (-10)

TX:       884 (-14)
LA:       150 (-2)
OK:       203 (+8)
ND:       182 (+2)
PA:       113
NM:        85 (-1)
CO:        77 (+2)
WY:       50 (-1)
CA:        48
UT:        23 (-4)
AK:         8 (+1)
WV:       21 (+1)
MT:         5 (-1)

For the rig count in other states: Baker Hughes Rig Count by State

New Applications to Drill

09/02/2011 through 09/08/2011



TX: 251
ND:  24
MT: update not available
WY: 34 (4 new Niobrara)

Gasoline Prices

09/09/2011



US Average: $3.671/gallon
US Low: SC $3.408/gallon
US High: HI $4.158/gallon

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