Patterson-UTI Rig Counts Continue Downward Spiral in September

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downward spiralSince March MDN has been watching the active number of rigs operated by Patterson-UTI Energy as a proxy for whether or not we’ve “turned the corner” on falling rig counts in the Marcellus/Utica. Patterson is a major drilling contractor with operations in the Marcellus/Utica region. We won’t recount all of the numbers here, for that you can read our story from August (see Patterson-UTI Active Rigs (Sadly) Falls Again in August). What do the latest numbers, from September, show? The downward spiral continues...

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