August US Rig Counts Go Up Again, but Marcellus Continues to Drop

good news bad newsOilfield service giant Baker Hughes released their venerable monthly rotary rig count report today for August 2015. The numbers worldwide improved–the international rig count for August was 1,137, up 19 from the 1,118 counted in July. Looking specifically at the U.S., onshore (mostly shale) rig counts climbed from 835 in July to 849 in August, up 14. It does indeed seem as if we’ve turned a corner. This is the second month in a row that U.S. land-based rigs increased month over month (see Baker Hughes July Rig Counts – U.S. May have Bottomed, but Not NE). However, the rig count in the Marcellus/Utica did not improve. It got worse…

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