Rig Count Continues Crash to 311 – Marcellus Loses 1 More Rig

The U.S. onshore rig count continues to collapse. Over the past week another 22 rigs disappeared from the count, mainly located in oil plays (like the Permian). Yet the news continues to be spun as “the bottom appears closer” when the decrease will stop. Really? We don’t see it! Last week the Marcellus (dry gas area of northeastern PA) lost another rig.

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