Uintah Basin Small Business Development Center September Drilling Report
By Kristin Forbis, Oct 7, 2019
The data for September drilling is providing a mixed message of information that might leave people scratching their heads as to what it means. The Uintah Basin Small Business Development Center shares that on the positive side there were wells drilled in Uintah County for Natural Gas for the first time in 4 years. Approved applications to drill in that same area was up from 83 last year to 183 this year, usually a good forecast indicator. Duchesne County went down from 181 last year to 116 this year. Unfortunately, the rig count dropped from 3 to 1 in Uintah County but held steady at 2 for Duchesne County. Things might be more hopeful if it wasn't for the fact that both natural gas and crude oil inventories are higher than a year ago and prices are lower than a year ago. Unfortunately, this trend does not give energy companies an incentive to produce more.