Baker Hughes Nov. Rig Count Decline Slows; Marc/Utica Lose Just 2

The number of active drilling rigs worldwide was down by just 2 rigs according to the November Baker Hughes rig count report. But active rigs in the U.S. fell by 31 month over month in the U.S. There were 791 active drilling rigs operating in the U.S. in October, and 760 rigs operating during the month of November. Ouch. What about active rigs in the Marcellus/Utica? Once again MDN brings you the exclusive chart for Marcellus/Utica rig counts over the past 12 months. This month’s chart is heartening. Although the count declined by another 2 rigs from October, the it appears like we may be hitting bottom with respect to the number of active rigs. Both rigs lost in November were from one state. Which one?…

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