Rigs Down | Green Arkansas

Friday, January 2, 2009

Rigs Down

Posted By on Fri, Jan 2, 2009 at 3:41 PM

The Houston Chronicle reports that the number of oil and gas rigs fell this year, with Arkansas losing a total of three.  That's not good for a state that increased the severance tax on gas extraction by five percent and was counting on the money.  Also, natural gas prices are falling, making investments in gas companies a little more risky than they used to be.  The AP, who ranked the natural gas boom in Arkansas one of their top ten stories of the year (saying it made the state recession-proof, and that everybody was getting rich), has this on the projected shortfall in revenue.       

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