PROVEN CONCEPTS, Inc is an oil and gas consulting firm that provides a wide spectrum of oil and gas related services specifically designed for land and mineral owners. These services include but, are not limited to oil and gas mineral lease, surface use agreements, pipeline, water sales agreements and land and mineral management programs, auditing of oil and gas production and revenue, petroleum resource management, litigation avoidance and specialized testing using data validation and defensibility protocols.

Drilling Rig Count In Barnett Shale Drops 51.5%

            Drilling rig activity data from RigData as of Friday, February 27, 2009, shows that the maximum number of drilling rigs operating in the Barnett Shale in the Fort Worth Basin was 227 for the week ending October 3, 2008, and the lowest number of drilling rigs in a week was this past week ending February 27, 2009, at 110 drilling rigs.  That represents a 51.5% drop in the number of drilling rigs in the Barnett shale in 22 weeks.   The chart below represents the number of drilling rigs running each Friday from January 4, 2008 to February 27, 2009, encompassing 21 counties of the Fort Worth Basin with Barnett Shale production.

            We analyzed the individual 21 counties with emphasis on six Barnett Shale counties.  The summary of the high rig count compared to the rig count of last Friday, February 27th is shown in the chart below and the percent decline.  This is followed by a histograph of the summary.

Source: RigData February 27, 2009 http://www.rigdata.com