Retrograde: Enverus Onshore Rig Count Slips Again, Down 7 Rigs

Two weeks ago the Enverus onshore rig count finally hit bottom and turned around, nudging up by five rigs (see Bottom! Enverus Onshore Rig Count Finally Moves Higher Last Week). Last week the count climbed again, up another 11 (see Enverus Onshore Rig Count Higher Again, Leaving Bottom Behind). Over the past seven days the rig count faltered and has gone backward (retrograde) once again, going down seven rigs. The good news is that we’re still higher than the bottom hit a few weeks ago.

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