Industrial Insight

fewer rigs and more gas… | March 25, 2013

Monday, March 25, 2013
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Carpe Diem

US gas rigs have decreased by 75% since 2008 and yet gas production has increased to record high levels

Mark J. Perry | March 20, 2013, 5:49 pm

The amazing chart above shows how the number of active natural gas rigs in the US has fallen from an all-time high of 1,606 in September 2008 to only 407 in early March of this year, a drop of 75% according to data from Baker-Hughes. Meanwhile, EIA data though December 2012 show that US natural gas production has risen to record levels and increased by almost 17% during roughly the same period that active gas rigs dropped by 75%. In about the last five years, the amount of natural gas produced (gross withdrawals) per rig has increased by more than four times.

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