Today's Trends: La. Rigs at Record Highs

The land rig count in Louisiana has reached an all-time high during 2Q10 of 174 rigs. For the month of May the average land rig count there has improved approximately 5% to 170 from an average 163 reported during 1Q10, according to Baker Hughes. More impressive, the La. land rig count had doubled in size over the last twelve months.

Similar to other regions marked by prolific shale gas exploration and discoveries, La. is benefiting from a proliferation of activities in the Haynesville shale. In addition to the compelling economic viability stemming from the strong production levels shale wells have been known generate, some of the drilling may also be due to operators drilling in order to hold their leases. Barring a significant drop in natural gas prices, either stability or some continued growth in La. land drilling activities (especially the Haynesville shale) are expected on the near horizon.

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