| US Natural Gas Rig Count Rose in the Week Ending September 18 | |
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Is the Fall in the US Rig Count Accelerating? (Continued from Prior Part) US natural gas rig count
In the US, there were 198 natural gas rigs operating in the week ending September 18. This was two more than the previous week. In the past 14 weeks, the natural gas rigs rose five times. The next part of this series discusses the key shales where natural gas rigs were affected the most last week.
Since the beginning of this year, the number of natural gas rigs in operation fell by 130. The four-week average reduction in the natural gas rig count was three for the week ending September 18. In comparison, the four-week average fall was four for the week ending September 11. The four-week averages give a smoother view of this trend that otherwise can be quite volatile on a weekly basis. So, the natural gas rig count fall seems to be decelerating.
What does this mean?
The fall in the natural gas targeted rigs suggests that natural gas producers like CONSOL Energy (CNX), Southwestern Energy (SWN), Linn Energy (LINE), WPX Energy (WPX), and Pioneer Natural Resources (PXD) are decreasing their drilling activities. WPX Energy accounts for 0.14% of the iShares US Energy ETF (IYE).
MLPs specializing in natural gas storage and transportation activities like AmeriGas Partners (APU), DCP Midstream Partners (DPM), and ONEOK Partners (OKS) could be affected negatively if natural gas production falls.
Historical perspective
Natural gas rigs have been on a downward trend for about four years. The number of active natural gas rigs also fell over the last 12 months. A year ago, there were 329 natural gas rigs in operation. Currently, there are 198 active rigs. That’s a fall of 131 rigs or ~40%. The natural gas rig count is at its lowest level since July 1997, according to Baker Hughes’ records.
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Consol Energy Inc.
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PRODUCTEUR |
CODE : CNX |
ISIN : US20854P1093 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Consol Energy est une société de production minière basée aux Etats-Unis D'Amerique. Consol Energy est productrice de charbon en USA, et détient divers projets d'exploration en USA. Son principal projet en production est BUCHANAN en USA. Consol Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 5,4 milliards US$ (5,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 06 juin 2008 à 99,79 US$, et son plus bas niveau récent le 26 avril 2019 à 10,00 US$. Consol Energy possède 223 758 284 actions en circulation. |