Statistics don’t lie?

Western Rig Counts Show Drop

American Association of Petroleum Geologists (AAPG)

There’s a classic “Peanuts” comics episode in which Charlie Brown, after enduring Lucy’s explanation of the numbers behind her club’s won-loss record, says, “Tell your statistics to shut up.”

So while current U.S. rig count numbers don’t lie, they may not tell the whole story, either.

“The rig count decline is not only a function of lower commodity prices but also a good indicator of how to balance to the market,” said Roger Read, senior energy analyst at Natixis Bleichroeder. “The decline is part of bringing supply and demand back into balance.”

And according to Baker Hughes Investment Relations, decline it has been.

The company’s data, traditionally a marker of industry health and vitality, showed a global decline in rig counts, from 7 percent from January to February; the decline from February 2008 to February 2009 was almost 20 percent.

Internationally, the rig count in February was down by 664 over the previous year.

In the United States alone, the drop was 15 percent from January and 25 percent from February 2008. Additionally, there are 520 fewer rigs being operated in the United States this year compared to last. The total stands now at 1,243.

Since 1940 the highest weekly U.S. rig count was 4,530 (December 1981); the lowest count was 488 just two years earlier.

Looking specifically at the western United States, here’s how the February 2009 rig counts compare to those of one year earlier:

  • Colorado &ndash down 48.
  • Montana – no change.
  • New Mexico – down 29.
  • Wyoming – down 23.
  • Utah – down 1.

In the largest oil and gas producing states, the numbers for the same period are:

  • Texas – down 321.
  • Alaska – down 11.
  • Oklahoma – down 80.
  • Louisiana – no change.

Comments (0)

 

What Can I Do?

Add Item

Enter Notes:
 
* You must be logged in to name and customize your collection.
Recommend Recommend
Printable Version Printable Version Email to a friend Email to a friend

Emphasis: Offshore Developments

Explorer Emphasis Article Bonanza to Little House on the Prairie Low Prices Hit State Coffers Low Prices Hit State Coffers Desktop /Portals/0/PackFlashItemImages/WebReady/EXPLORER-cover-2009-04april-thumb.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 502
Explorer Emphasis Article Cable-free 3-D VSP, OVT New Seismic Technologies on Trial New Seismic Technologies on Trial Desktop /Portals/0/PackFlashItemImages/WebReady/wamsutter-1-full.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 500
Explorer Emphasis Article A good look inside a crater Red Wing Data Has Big Impact Red Wing Data Has Big Impact Desktop /Portals/0/PackFlashItemImages/WebReady/red-wing-data-graphic.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 501
Explorer Emphasis Article Figuring Utah complexity pays big dividends Understanding Model a Challenge Understanding Model a Challenge Desktop /Portals/0/PackFlashItemImages/WebReady/utah1.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 497
Explorer Emphasis Article Needed: Pipelines, policies West’s Gas Plays Feel Price Squeeze West’s Gas Plays Feel Price Squeeze Desktop /Portals/0/PackFlashItemImages/WebReady/stark-pete.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 498

See Also: Online e Symposium

Online e-Symposium Microseismic Imaging of Hydraulic Fractures: Snap, Crackle and Pops of Shale Reservoirs Microseismic Imaging of Hydraulic Fractures: Snap, Crackle and Pops of Shale Reservoirs Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-microseismic-imaging-of-hydraulic-fractures.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 1491
Online e-Symposium Integrating Disciplines, Data and Workflows in Resource Plays Integrating Disciplines, Data and Workflows in Resource Plays Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-integrating-discipline-data-and-workflows-in-resource-play.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 1454

See Also: ACE Program Paper

ACE Program Paper Room 605/607 Utilizing Channel-Belt Scaling Parameters to Constrain Discharge and Drainage Basin Character With Application to the Cretaceous to Teritary Evolution of the Gulf of Mexico Utilizing Channel-Belt Scaling Parameters to Constrain Discharge and Drainage Basin Character With Application to the Cretaceous to Teritary Evolution of the Gulf of Mexico Desktop /Portals/0/images/ace/2015/luncheon heros/ace2015-tp4-siliciclastics.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 15294

See Also: Learn! Blog

Learn! Blog State Key Laboratory, Sichuan Provincial Science and Technology Department, Chengdu University of Technology, and Southwest Petroleum University, and AAPG (American Association of Petroleum Geology) CALL FOR PAPERS-Eighth International Symposium on Tight Sandstone and Shale Plays Exploration and Development CALL FOR PAPERS-Eighth International Symposium on Tight Sandstone and Shale Plays Exploration and Development Desktop /Portals/0/PackFlashItemImages/WebReady/Dujiangyan,_Chengdu,_Sichuan,_China_-_panoramio_-_jetsun_(18).jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28468

See Also: Middle East Blog

Middle East Blog New Dates: 26-27 October 2016 New Dates for the AAPG/SEG Advances in Subsurface Imaging and Mapping Workshop: 26-27 October 2016 New Dates for the AAPG/SEG Advances in Subsurface Imaging and Mapping Workshop: 26-27 October 2016 Desktop /Portals/0/PackFlashItemImages/WebReady/advances-in-subsurface-imaging-herov4.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28863