Wow, looks like there was a big drop in the Rig Count around 2009.
I wonder what happened to cause that? /sarcasm
I will give you a hint, it was NOT the price of crude oil.
In summer 2008, there were about 2,000 drilling rigs operating in the US.
80% of them were chasing Natural Gas.
A year later, Total less than half, ~75% chasing Natural Gas.
When it got back up to 2,000 rigs in late 2011, ~40% were chasing gas while the majority were now chasing oil.
This past summer while oil prices were high, it was over 80% chasing oil. Still over 80% today.
North America Rotary Rig Count (Jan 2000 - Current)
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NTY1NDMwfENoaWxkSUQ9MjY1NjM1fFR5cGU9MQ==&t=1