The Texas Railroad Commission reported December drilling, completion, and permitting activity today. It showed a sharp increase in well permits, and a rise in reported new oil well completions. Gas completions, however, hit a new low at just 75 new wells:
Oil completions rose from 264 to 384, along with oil rig counts and prices:
But little gas activity has materialized in response to a 4 month price trend, and prices are now well below the December average, so January activity may not prove overwhelming either:
