Comstock Resources Inc
U.S. oil rigs fell to 537 this week, while gas rigs dropped to 133.
Nine natural gas companies’ resilience was tested amid a mock drop in gas prices, with some E&Ps potentially facing debt repayment hardships and producing negative cash flow at lower prices.
Oil rigs in the U.S. fell by 1 to 545, while gas rigs dropped by 6 to 124.
The oil and gas rig count fell by 8 to 687, the lowest it's been since April 2022.
As producers scramble to extend their inventory runways, companies are drilling deeper test wells in the Permian Basin and exploring emerging plays in the Lower 48.
Aethon Energy’s 36.9 MMcf/d Currie #2H north of Houston makes for a third well revealed in the Bossier prospect north of Houston that one longtime Texas wildcatter calls a “big boy play.”