Posted on 06/28/2008 6:16:19 PM PDT by thackney
US drilling activity continued climbing to 1,913 rotary rigs working this week, up by 7 from the previous week, vs. 1,775 units drilling in the same period a year ago, Baker Hughes Inc. reported.
That's the highest rig count since the week ended Jan. 3, 1986, when 1,915 rotary rigs were drilling in the US.
Land operations accounted for the latest gain, up 15 rigs to 1,827 working this week. Inland water drilling lost 1 rig to 22. Offshore drilling was down 7 rigs to 64 in the Gulf of Mexico, the only US offshore area in which there is drilling.
Of the rigs working this week, 375 were drilling for oil, 9 less than last week; 1,530 were drilling for natural gas, 16 more than the previous week; and 8 were unclassified. Directional drilling decreased by 2 rigs to 380. Horizontal drilling increased by 20 rigs to 564.
Among major producing states, Louisiana had the biggest increase, up 6 to 178. Five states were unchanged: Colorado at 113; New Mexico, 80; Wyoming, 76; California, 43; and Alaska, 6. Oklahoma dropped 7 rigs, with 200 still working. Texas was down 1 to 915.
Canada's rig count increased by 97 to 356 this week, up from 231 in the same period last year.
Mark
awesome pictorial...bbbt
Boone Pickens was interviewed last week by Neil Cavuto. At 80 something he is sharp as a tack, very laid back and confident. He said that gas was going to be the solution to our problems and was the way for people to make money on investment in the market.
I had a bad bias against him, but his forthright no hold barred interview changed my mind.
This week in Forbes, he has a big article about his brain scan. He is an old guy and sharp. This didn't go unnoticed by the folks studying brain function in old people. They gave him a brain scan made while making him think. He came out better than most his age indicating he still uses all he has.
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