Rig Counts (and Profits) in the Marcellus/Utica
An interesting article in yesterday’s Wheeling News-Register (below) takes a look at rig counts in the Marcellus/Utica region, noting the big increase in rigs drilling in Ohio while the number of rigs in West Virginia has remained the same or gone down slightly, and the number of rigs in Pennsylvania has decreased rather dramatically. The article also gives us a look at how much money, on average, Chesapeake Energy makes per day per well in both dry and wet gas areas. Very useful information.
MDN has inserted a Baker Huges rig count chart at the bottom showing the number of rotary drilling rigs by state (PA, OH, WV) for the past 12 months (taken from the Marcellus and Utica Shale Databook):