In his weekly drilling report, released Tuesday, LOGA Marketing Director Ben Broussard says West Texas Intermediate crude pricing has stabilized at $36.20 a barrel, Louisiana light sweet crude fell to $36.35 a barrel and the New Year Henry Hub natural gas spot price is up slightly to $1.90 per million Btu.
Broussard says the U.S. rig count delivered a “little Merry Christmas” gift this week (the report opens with a little holiday cheer from the LOGA staff), remaining unchanged at 709. That’s not really much of a Christmas gift, considering the rig count is down 1,166 from a year ago — hence the major industry layouts occurring on a near weekly basis in various markets throughout the state.
Broussard also updates the current drilling activity in the Haynesville Shale, North Louisiana, Tuscaloosa Marine Shale, South Louisiana Land, Inland Waters and the Gulf Of Mexico and discusses where new permits are located in the state.
You can email questions and comments to [email protected] or through Twitter @LaOilGasAssoc and watch the full report here.