A little insight and opinion on the current oil market

Once again, speculators behind sharply rising oil and gasoline prices

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 09/16/2011

Well as the unemployment rate continues to climb on the US average, the oil and gas industry seems to be moving steadily up. The price of oil has been bouncing around the $88. mark. The US rig count and new permits are up, however the price of gasoline is down slightly as might be expected after Labor Day.

Rig Count

09/16/2011

USA: 1985 (+27)

TX: 895 (+11)

LA: 156 (+6)

OK: 199

ND: 184 (+2)

PA: 113

NM: 84

CO: 75

WY: 51 (+1)

CA: 53 (+5)

UT: 26 (+3)

AK: 8 (+1)

WV: 25 (+4)

MT: 5

For the rig count in other states: Baker Hughes weekly rig Count

New Applications to Drill

09/09/2011 through 09/15/2011



TX: 345

ND: 43

MT: 6

WY: 56

Gasoline Prices

09/16/2011



US Average: $3.619/gallon

US Low: SC $3.326/gallon

US High: HI $4.179/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

Oil and Gas by the Numbers 06/10/11

Well it looks like we finished up this week with the oil prices at $98.82/barrel.  Even with the slight drop this week with the price of oil, there was still an increase of one more rig in the US.

Rig Count

updated 06/10/2011

US: 1855

TX: 833

LA: 172

OK: 166

ND:  159

PA:  114

NM: 85

CO: 69

WY:  45

CA:  43

UT: 27

AK: 06

WV: 18

MT: 10

Applications to Drill 

06/03/2011 through 06/09/2011

TX: 258

ND: 26

MT: 3

Gasoline Prices

06/10/2011

US average: $3.720/gal

Low:  SC $3.415/gal

High: AK $4.202/gal

Oil and Gas by the Numbers 05/27/2011

Good afternoon everyone.  Well today it looks like we are starting to move forward again in our rig numbers.  The US total made a jump of 17 over the week.  Crude oil seems to be hovering at $100.19/barrel at the moment and natural gas is making a nice upswing $4.51 an increase of 3.56% so far today.  As we head into the holiday weekend that traditionally marks summer gasoline price increases, we are actually looking at some big changes in price on a down trend.

Rig Count

updated 05/27/11

US: 1847
TX: 835
LA:  165
OK: 173
ND:  162
PA:  110
NM:  77
CO:  72
WY:  41
CA:  44
UT:  29
AK:  05
WV: 19
MT:  10

Applications to Drill

05/20/11 thru 5/26/11

TX: 357
ND: 32
MT: 2
CA: No update
WY: 45

Gasoline Prices

05/27/2011

US average: $3.796/gal
Low: SC $3.528/gal
High: AK $4.204/gal

Oil and Gas by the Numbers 05/13/2011

Good Afternoon!  Looks like we might be back online hopefully to stay.  As I passed by the computer screen the numbers look like they are dropping a bit.  WTI crude is currently at $98.42/barrel.  Along with the dip in the price of crude there is a slight dip in the number of rigs in the US.

Rig Count

updated 05/13/11

US: 1830

TX: 817

LA: 173

OK: 180

ND: 162

PA: 108

NM: 75

CO: 72

WY: 42

CA: 41

AK: 6

WV: 18

MT: 10

Applications to Drill

5/6/11 thru 5/12/11

TX: 333

ND: 35

MT: 6

CA: 54

WY: 98

NM: 3

Gasoline Prices

05/13/11

US average: $3.952/gal

Low: WY $3.654/gal

High: HI $4.475/gal



Oil and Gas by the Numbers 04/29/2011

Good afternoon from oil country.  Looking at the numbers today, the price of WTI crude is currently at $113.87/barrel.  That's a whopping $24.80/barrel more then a year ago, is it any wonder that gasoline is also  a $1.00/gallon higher then last year too.  The rigs keep rolling in with an increase of 18 in the US this week.  Some of the states sporting increases are: TX, LA, OK, PA, WY, and WV.

Rig Count

updated 04/29/11

United States Total:  1818 (up 18 rigs)
TX: 804
LA: 172
OK: 183
ND: 160
PA: 105
NM:  72
CO:  72
WY: 42
CA:  41
AK:  5
WV:  15
MT:  10

Applications to Drill

04/22/11 thru 04/28/11

TX:  228
ND:  31
MT:  8

Gasoline Prices

04/29/11

National Average:  $3.91/gal
US Low:  WY $3.521/gal
US High:  HI $4.595/gal

Oil and Gas by the Numbers 04/21/2011

Rig Count

updated 04/15/11

United States Total:  1800 (up 28 this week)
TX: 801
LA: 170
OK: 174
ND: 161
PA: 104
NM: 73
CO: 72
WY: 41
CA: 41
WV: 14
MT: 10
AK: 6

Permits Issued for Drilling

04/15/11 thru 04/21/11

TX: 661
ND: 20
MT: 3 new, 2 reissued
CA: no report
WY: 72

Gasoline Prices

04/22/11

National Average:  $3.83/gal
US Low: WY $3.524/gal
US High:  HI $4.640/gal

Oil and Gas by the Numbers 04/15/2011

Good Afternoon.  It looks like oil prices are rebounding slightly today.  At noon the price was $109.92/barrel for WTI. 

Rig Count

updated 04/15/11

United States Total:  1772 (down 10 this week)
TX:  779
LA:  171
OK:  170
ND:  160
PA:  102
NM:  74
CO:  72
WY:  40
CA:  41
WV:  14
MT:  11
AK:  6

Permits Issued for Drilling

04/08/11 thru 04/14/11

TX:  608
ND:  25
MT:  5 new, 5 reissued
CA: 112 last report on 04/02/11
WY: 49

Gasoline Prices

04/15/11

National Average:  $3.794/gal
US Low:  WY $3.504/gal
US High:  HI $4.508/gal

Oil rises above $121 after a two day decline

For the latest politics behind the current oil prices please click the link below.
Oil rises above $121 - Upstream Online

Oil and Gas by the Numbers 04/08/2011

Good Afternoon!  As I sit and listen to the news today I can't help but think too many people in DC are wanting a long vacation over Easter.  However with fuel prices what they are most of us will have to be conservative.  WTI rings in at noon today at $111.82/barrel.  It seems that the trend is going to keep climbing. With summer coming in some parts of the US the demand should also increase to support the climbing prices.  For those of you interested in where the economists think that our oil costs are going make sure to check out the link: Poll predicts 130 oil in 2011.

Rig Count

updated 04/08/11

United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA:  107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK:  4
For more information and other state counts please check out: Baker Hughes Rig Count.

Permits Issued for Drilling

04/01/11 thru 04/07/11

TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42

Gasoline Prices

04/08/11

National Average:  $3.727/gal
US Low:  WY $3.459
US High:  HI $4.470

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

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





A post while traveling from old oil country to new

Well internet being what it is in the vast rural areas of Colorado, Wyoming, Montana and North Dakota has taken a toll on my blog this week.  I have however gained so new leads and insite that will be interesting to investigate next week. I will however report these few tidbits as i roll thru good 3G coverage.
Oil today closed at $101.62/barrel.  This appears to be lower then what we saw earlier tyis week, but my reader feeds suggest we have found a little calm in the middle east.  The rig count for the week has gone up by 5 for a US total of 1720.  I was happy to see as I traveled WY that one of my feeds was correct and that Southern Campbell county has a few rigs up.  I will be looking for more info on that.  Well service is about to drop again, so for now!

Oil and Gas by the Numbers 03/11/2011

Oil prices have dipped some towards the end of the week.  At the last glance today around noon crude was still holding out at $101.03/bbl.  The slight dip in price doesn't seem to have changed the new drilling interest throughout the US.

Rig Count

update 03/11/11

• United States Total: 1715 (an increase of 8 rigs from last week)
• TX: 737
• LA: 174
• OK: 165
• ND: 153
• PA: 100
• NM: 77
• CO: 66
• WY: 46
• CA: 41
• AK: 05

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

Permits Issued for Drilling

03/4/11 thru 03/10/11

• TX: 252 (approved New Drill apps)
• ND: 40
• MT: 3 New / 15 Reissued
• CA: 32

Gasoline Prices

03/11/2011

National Average: $3.526/gal

US Low:  WY $3.228/gal

US High: HI $3.954/gal



Find current prices for your area at: Gas Buddy