Slowdown in the Oil Patch
High energy prices breathed new life into Texas oil and gas production over the last few years. Sharp price drops since the downturn have reversed the trend, bringing the January 2009 Texas rig count to its lowest level since March 2006.
| Month | Rig Count |
|---|---|
| January-06 | 664 |
| February-06 | 686 |
| March-06 | 699 |
| April-06 | 726 |
| May-06 | 740 |
| June-06 | 748 |
| July-06 | 757 |
| August-06 | 788 |
| September-06 | 787 |
| October-06 | 798 |
| November-06 | 778 |
| December-06 | 780 |
| January-07 | 790 |
| February-07 | 813 |
| March-07 | 818 |
| April-07 | 824 |
| May-07 | 829 |
| June-07 | 834 |
| July-07 | 831 |
| August-07 | 844 |
| September-07 | 837 |
| October-07 | 842 |
| November-07 | 860 |
| December-07 | 884 |
| January-08 | 858 |
| February-08 | 866 |
| March-08 | 881 |
| April-08 | 887 |
| May-08 | 906 |
| June-08 | 923 |
| July-08 | 920 |
| August-08 | 934 |
| September-08 | 946 |
| October-08 | 925 |
| November-08 | 899 |
| December-08 | 826 |
| January-09 | 701 |
Source: Baker Hughes