More natural gas drilling likely

07/25/2005
A “higher-than-expected level of drilling” is likely in the near future since already robust activity has failed to stem declines in US natural gas production, say industry analysts.US natural gas production has fallen on a year-to-year basis in 10 of the past 12 months reported (May 2004-April 2005), despite a double-digit increase in the number of rigs drilling for natural gas, said analyst W. Kevin Wood in a July 14 report from Susquehanna Financial Group LLLP in Bala Cynwyd, Pa.“The average number of rigs drilling for natural gas increased 20% over the same period,” he said. “The average US rig count is up 15% thus far in 2005, although we expect growth t...
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