US natural gas rig count
Baker Hughes will publish its weekly US oil and gas rig count report on October 19, 2017. In last week’s report, Baker Hughes reported that the US natural gas rig count fell by two to 185 on October 6–13, 2017. It was the lowest level since September 1, 2017. The rigs fell due to stalling crude oil (DBO) (SCO) and natural gas (DGAZ) (UGAZ) prices in the last few months. If the weakness continues, US natural gas rigs could test two-month lows.
Monthly drilling report
The U.S. Energy Information Administration published its monthly drilling report on October 16, 2017. It estimates that US gas production could rise in the significant shale regions by 827 MMcf/d (million cubic feet per day) to 60,937 MMcf/d in November 2017—compared to October 2017. Production is expected to rise in the Appalachia, Permian, and Haynesville shale regions during this period.
Natural gas international rig counts
International natural gas rigs fell 2.5% to 195 in September—compared to August. However, rigs were at 194 in September 2016. Natural gas–directed international rigs are at the lowest level since March 2017.