Shale Directories is the only online directory for the six major shale plays in the U.S. which are the Marcellus, Utica, Eagle Ford, Permian, Bakken and Niobrara.
We have been reporting the rig count in activity of these six major shale plays in our weekly newsletter, Facts & Rumors. In reviewing the price declines of oil and natural gas, we think December 5th is date for a stake in the ground to analyze the price change and rig count declines by shale play.
On December 5, 2014, the price of crude WTI was $66.25 and natural gas was $3.70. Since that time we’ve seen a rollercoaster of price variations with crude dropping in the low $40’s range and going as high as $55. The movement of natural gas prices has been primarily downward despite one of the coldest winters on record.
The impact of the price declines on rig counts (Baker Hughes) has been significant in some shale plays and minor in others.
|State||Shale Play||Rig 12/5/2014||Rigs 2/27/2015||% Change|
|TX|| Eagle Ford/
In reviewing these numbers, it jumps out that the Marcellus in PA has not seen any drop in rig counts. OH has experienced a mild drop in rig counts (17%). The constant activity in the Marcellus and Utica shale plays is expected according to many industry experts.
We hope you find this analysis helpful as you plan your business in the oil and gas industry whether you are just working the in the Niobrara or Marcellus or in all six shale plays.