Gas drilling rigs decline in Pa. and nationwide
The number of gas drilling rigs is declining in Pennsylvania and nationwide, due to a combination of low natural gas prices and renewed interest in oil.
There were 98 drilling rigs in Pennsylvania during the week of March 23, according to Baker Hughes. That’s down from 116 during the summer of 2011.
Many drillers are going back to oil.
Three years ago there were about 200 oil drilling rigs nationwide. There were 1,317 last week.
But experts say that doesn’t mean the natural gas boom is over. Now many companies are investing in pipelines and other distribution facilities.
The gas-rich Marcellus Shale has attracted a rush of drilling since 2008. The underground formation covers large parts of Pennsylvania, New York, Ohio and West Virginia.
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