MDN highlighted part one of a new series of articles appearing on the Seeking Alpha website on the topic of rig counts and what they see as a coming natural gas shortage (see this MDN story). The series continues with part two. Of keen interest in the second installment is a slide from a Chesapeake Energy presentation showing the top 20 U.S. natural gas producers (based on production volume) with columns showing how many rigs they’re running and the percentage change in the number of rigs from January of 2010 to September 2012. Most startling is Chesapeake’s own rig count, which has gone from 110 active rigs in 2010 to just 9 at the end of September 2012—a 92% reduction. Wow!
There’s a lot of great detail in this chart. Here it is (click on the chart for a larger view):