World News | US Natural Gas-directed Rigs Decreased for Second Consecutive Year in 2024: EIA
Get latest articles and stories on World at LatestLY. The number of rigs deployed to drill for natural gas in the United States decreased over the last two years, according to the US Energy Information Administration (EIA).
Washington [US], March 5 (ANI/WAM): The number of rigs deployed to drill for natural gas in the United States decreased over the last two years, according to the US Energy Information Administration (EIA).
US natural gas-directed rigs decreased 32 per cent (50 rigs) between December 2022 and December 2024. This decline has been concentrated in the natural gas-rich Haynesville and Appalachia regions, where the combined natural gas rig count declined by 34 per cent during 2023 (43 rigs) and by 24 per cent during 2024 (21 rigs). The decline in drilling rigs coincides with record-low natural gas prices for most of 2024 and the wider adoption of advanced drilling and completion technologies, the EIA noted.
In the Haynesville region, which spans Texas and Louisiana, drilling costs tend to be higher than in other plays because Haynesville wells are drilled to greater depths, usually between 10,500 feet and 13,500 feet deep. As natural gas prices have generally declined over the last two years, rigs in the Haynesville have decreased 55 per cent since December 2022 (39 rigs) as drilling has become less economical. Consequently, marketed natural gas production in the Haynesville region has declined 7 per cent over the same period. (ANI/WAM)
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