Natural Gas Rigs Drop for Third Consecutive Week. The natural gas rotary rig count fell by 3 to 892, according to data released on September 9 by Baker Hughes Incorporated. This is the third consecutive week natural gas rigs have fallen, though declines have been small each week. The oil rig count, which had risen for 19 consecutive weeks until the beginning of September, also fell this week, to 1,057. This number, however, is still historically very high. Rigs in all categories, horizontal, vertical, and directional (which include both natural gas and oil rigs), posted small declines week over week. Most states saw somewhat small changes in their rig counts, but Texas and Oklahoma were two notable exceptions. In Texas, the total rig count fell from 898 the week ending September 2 to 884 the week ending September 9. In Oklahoma, on the other hand, total rigs rose from 195 to 203, according to Baker Hughes.
Natural gas outlook: Prices pass $4 mark as Autumn weather approaches