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Key Update: US Rig Count down 50% in the Past Year (Part 5 of 10) (Continued from Part 4) Gas rig count increases
In the US, there were 225 natural gas rigs operating in the week ending April 24, 2015—eight higher than the previous week. In the “Other Basins” category, the natural gas rig count increased by three. Rigs in “Other Basins” are those in smaller basins or rigs that don’t fall within a specific geographic basin.
Last week, the natural gas rig count decreased by eight.
Falling natural gas rigs in operation suggest how major natural gas producers like Cabot Oil & Gas (COG), Southwestern Energy (SWN), CONSOL Energy (CNX), and Devon Energy (DVN) are lowering drilling activity. This could mean a slowdown in production growth or even a production decline. Southwestern Energy and CONSOL Energy account for 1.5% of the Energy Select Sector SPDR ETF (XLE).
Natural gas rig counts have been on a downward trend for about three years. The gas-targeted rig count seemed to stabilize over the past six months. It showed ten increases in that period. However, any hope of a reversal from a downtrend was dashed by a decrease of 94 natural gas rigs in the past three months.
One-year gas rig counts are down
The number of active natural gas rigs decreased throughout last year. A year ago, there were 323 natural gas rigs in operation. Currently, there are 225 rigs. That’s a decrease of 98 rigs, or ~30%. In comparison, the rig count dropped by 43 for the week ending April 25, 2014—down ~13% from the year before.
Natural gas rigs in major US shales
In the past year, most of the decline in the natural gas rig count occurred in the Marcellus and Haynesville shales. The number of gas rigs decreased by 17 and 19, respectively. In the past year, the Eagle Ford Shale added six rigs to its natural gas rig total—the most of any shale play in the US.
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Devon Energy est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. Devon Energy détient divers projets d'exploration au Canada. Son principal projet en exploration est JACKFISH OIL SANDS PROJECT au Canada. Devon Energy est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 21,5 milliards US$ (19,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 18 août 1995 à 10,00 US$, et son plus haut niveau récent le 22 février 2008 à 99,19 US$. Devon Energy possède 525 000 000 actions en circulation. |