U.S. RIG COUNT FOR OIL AND GAS AND FUTURE ECONOMIC GROWTH

"In a short article without comments Oil & Gas Journal assert that the number of drilling platforms currently drilling for oil and gas in the USA has decreased by 12 units to 1749. Compared with the number of rigs one year ago, 2008 rigs, that is a decrease of 13% ... The statistics show that approximately a third of the world’s drilling rig capacity is currently used in fracking. The fact that the price of natural gas has fallen so low in the USA such that it is not profitable to drill new wells can be clearly seen in the statistics. The fact that oil/gas production from each fracking well falls so rapidly during the first year of production most likely means that gas production in the USA will now fall. In reality we can already see that happening if one examines the production from the Barnett Shale. The gas wells that they now drill must be “wet” if they are to be profitable ... During recent months fracking has been promoted as the cure for Peak Oil. It is said that production in the USA is to more than triple. However, the trend that we are now seeing gives no indication that gas production will increase in the near future. To triple production would require the number of drilling rigs to increase to 4000. At the moment, an enormous number of wells must be drilled just to maintain the current production level. David Hughes showed in his presentation that it requires 7641 wells to maintain current production of oil and gas ... Now the number of rigs is decreasing signficantly and the question is if this is an indication that we are heading for worse times economically."

Ein Artikel von Prof. Kjell Aleklett [Präsident der ASPO Internationa], erschienen auf Aleklett's Energy Mix (20. Januar 2013).