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Natural Gas Rigs Advance in November, Baker Hughes Says

Business Week -- Natural gas rigs in the U.S. advanced in November for the first monthly gain in more than a year with gas prices up almost 20 percent in 2012.

The count increased by eight this month as nuclear power plant refueling and maintenance helped support a rally in gas futures, which settled last week at the highest price since Oct. 31, 2011. Gas rigs fell by four to 424 this week after rising by 15 in the previous two weeks, according to oil-services company Baker Hughes Inc. (BHI)

Gas rigs declined for the previous 12 consecutive months as energy producers moved away from gas plays to focus on more lucrative gas liquids and oil drilling. The total dropped to 413 on Nov. 9, the lowest level since 1999.

“Natural gas market fundamentals steadily improved” in August, September and October, Chesap


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Submitted Dec 01, 2012 By: skb69sa
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REPLIES (newest first) Post a Reply
bston
Champion Author Oklahoma City

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Message Posted: Dec 2, 2012 12:51:42 AM

Yea!
Cellsite
Champion Author Appleton

Posts:3,883
Points:913,440
Joined:Jun 2012
Message Posted: Dec 1, 2012 1:00:12 PM

Keep on drillin' baby!
matthwbar
Champion Author Toledo

Posts:7,126
Points:1,784,700
Joined:Jun 2007
Message Posted: Dec 1, 2012 12:49:44 PM

Cool....
mageetp
Champion Author British Columbia

Posts:6,351
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Joined:Aug 2011
Message Posted: Dec 1, 2012 12:49:26 PM

Maybe a good thing.
Cheepo
Champion Author Tampa

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Joined:Apr 2003
Message Posted: Dec 1, 2012 12:23:40 PM

Drill baby drill!!!!!!!!
dacofa
Champion Author Nevada

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Points:1,227,730
Joined:Jan 2010
Message Posted: Dec 1, 2012 12:16:34 PM

Obozo will stop them somehow.
Car54BC08
Champion Author British Columbia

Posts:7,439
Points:2,278,070
Joined:Jun 2008
Message Posted: Dec 1, 2012 12:12:04 PM

Natural gas is a good alternative for now
Wolfwings
Champion Author Delaware

Posts:11,798
Points:2,548,300
Joined:May 2004
Message Posted: Dec 1, 2012 12:08:20 PM

We still neeed a LAW to require demolition of the rigs once the owners are done with them.
mikesr100
Champion Author Sacramento

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Message Posted: Dec 1, 2012 12:08:08 PM

Drill Baby Drill
EMoe57
Champion Author Jacksonville

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Message Posted: Dec 1, 2012 12:07:10 PM

awesome
BeatOPEC
Champion Author Indianapolis

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Message Posted: Dec 1, 2012 12:04:55 PM

Prices are up 20% already? This isn't an answer because the market will just make NCG as expensive as gasoline.
nehemiah
Champion Author Portland

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Message Posted: Dec 1, 2012 12:04:30 PM

more alternatives are good
GManCo
Champion Author Colorado Springs

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Message Posted: Dec 1, 2012 12:04:21 PM

In the free market, you drill to produce a product and sell it at a profit.
fordfan1
Champion Author Indiana

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Points:2,672,985
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Message Posted: Dec 1, 2012 12:03:27 PM

Keep on building more of these rigs until Obama and his thugs at the EPA put a stop to it!!!!!
honkerman
Champion Author San Jose

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Message Posted: Dec 1, 2012 12:01:11 PM

Always drill to make money. Otherwise....why drill?
rippertoo
Champion Author Tacoma

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Message Posted: Dec 1, 2012 11:59:34 AM

There are better alternatives than NG. We need to get away from carbon based energy.
bigmace111
Champion Author Albany

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Message Posted: Dec 1, 2012 11:59:25 AM

We need a new source of energy to get away from gas and oil.
deputydog082
Champion Author Detroit

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Message Posted: Dec 1, 2012 11:58:56 AM

we need to develop cng as an alternatve transportation fuel
bicycler
Champion Author Ontario

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Message Posted: Dec 1, 2012 11:57:38 AM

Natural gas is a wise fuel compared to others when one considers it to that we see at the familiar type we see along the roads.
TWS658
Champion Author Portland

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Message Posted: Dec 1, 2012 11:55:31 AM

Interesting.
Pramodsharma
Champion Author Richmond

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Message Posted: Dec 1, 2012 11:54:36 AM

and our electricity bill jumped 35%
kuma2000
Champion Author Honolulu

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Message Posted: Dec 1, 2012 11:54:26 AM

Just as in gasoline, it all stems from greed and profit - prices will go up.
Ken2OD
Champion Author Grand Rapids

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Joined:Dec 2005
Message Posted: Dec 1, 2012 11:50:50 AM

Look what the article says at the end of the Third Paragraph, "The total dropped to 413 on Nov. 9, the lowest level since 1999."

That would indicate that the overall total is steadily decreasing. NOT GOOD!
Bubba44612
Champion Author Ohio

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Message Posted: Dec 1, 2012 11:49:35 AM

Well prices are up.
sljbc475
Champion Author Tucson

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Message Posted: Dec 1, 2012 11:49:03 AM

Put natural gas to use in long haul rigs.
Jamer
Champion Author Las Vegas

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Message Posted: Dec 1, 2012 11:47:43 AM

NO compressed NG bombs for me.
Wizrd03
Champion Author Illinois

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Message Posted: Dec 1, 2012 11:47:20 AM

SO???
gasmeup52
Champion Author Missouri

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Message Posted: Dec 1, 2012 11:45:46 AM

Cool.
NanookAK
Champion Author Anchorage

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Message Posted: Dec 1, 2012 11:45:46 AM

Still a long way to go.
JagXKR
Champion Author British Columbia

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Message Posted: Dec 1, 2012 11:45:01 AM

I totally agree with others, price goes up with demand.
Chadgas
Champion Author Missouri

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Message Posted: Dec 1, 2012 11:43:53 AM

Lets hear it for NG
njerald
Champion Author Seattle

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Message Posted: Dec 1, 2012 11:43:39 AM

Right on, screw the Liberals.
seahawks
Champion Author Washington

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Message Posted: Dec 1, 2012 11:42:52 AM

lets keep on drilling!!!
Grismer
Champion Author Kitchener-Waterloo

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Message Posted: Dec 1, 2012 11:41:22 AM

The increased use of natural gas can reduce the consumption of coal and oil as primary energy sources. However, much more care must be taken to ensure that domestic price remains affordable since many consumers rely on natural gas as an essential home heating source.
oppdetcon
Champion Author Ottawa

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Message Posted: Dec 1, 2012 11:40:47 AM

As demand climbs, so will the price...
trekmanKY
Champion Author Kentucky

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Message Posted: Dec 1, 2012 11:40:06 AM

I don't use nat gas!
mreiff
Champion Author Louisville

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Message Posted: Dec 1, 2012 11:40:00 AM

Go CNG!
SandeeC
Champion Author Ontario

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Message Posted: Dec 1, 2012 11:39:38 AM

Me too, JoeKR.
zimowski
Champion Author San Jose

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Message Posted: Dec 1, 2012 11:39:11 AM

Seems like the U.S. already has a surplus of natural gas.
gman617
Champion Author Illinois

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Message Posted: Dec 1, 2012 11:37:39 AM

fine then
sit
Champion Author Cleveland

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Message Posted: Dec 1, 2012 11:37:30 AM

yes to nat gas.
geezrtek
Champion Author Michigan

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Message Posted: Dec 1, 2012 11:36:26 AM

Has the price for natural gas bottomed out?
JoeKR
Champion Author New Jersey

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Message Posted: Dec 1, 2012 11:33:14 AM

It would be most interesting to see a breakdown of where the added dollars go when gas prices rise.
HawaiianGuy
Champion Author Idaho

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Message Posted: Dec 1, 2012 11:32:46 AM

My natural gas bill has dropped at least 4 times in the past 3 years, and my gas company just announced yet another price reduction. I couldn't be happier!
TRAIN RIDER
Champion Author San Bernardino

Posts:12,315
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Joined:Oct 2004
Message Posted: Dec 1, 2012 11:32:18 AM

Natural gas is at the moment at a good price.
Black Wagon
Champion Author Illinois

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Joined:Mar 2004
Message Posted: Dec 1, 2012 11:31:57 AM

Didn't lower gas prices much though.
pacecar68
Champion Author Oakland

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Message Posted: Dec 1, 2012 11:31:47 AM

ok.
Romey08
Champion Author Virginia

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Message Posted: Dec 1, 2012 11:31:27 AM

CNG has the best value for energy usage
buzzieNY
Champion Author Buffalo

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Joined:Jun 2011
Message Posted: Dec 1, 2012 11:29:57 AM

Interesting. . .
rrs517
Champion Author Colorado

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Points:1,124,455
Joined:Apr 2006
Message Posted: Dec 1, 2012 11:29:11 AM

"Steadily improved" in the past 3 months after a 2-year government imposed decrease should really make us feel good? Hmmm, must be the new normal.
Goatroper
Champion Author Dallas

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Points:1,776,545
Joined:Apr 2004
Message Posted: Dec 1, 2012 11:28:42 AM

Should help to keep the price of nat gas low
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