Enverus Onshore Rig Count Stays Flat – MU Rigs Move Around

The onshore rig count continues to bump along near the bottom. A few weeks ago we noted that after hitting bottom, the Enverus rig count had once again started to climb (see Bottom! Enverus Onshore Rig Count Finally Moves Higher Last Week). Then the count went down a bit again (see Retrograde: Enverus Onshore Rig Count Slips Again, Down 7 Rigs). Last week’s numbers show the count staying about the same–maybe up or down one or two rigs, we’ll call it even. The Baker Hughes rig count, on the other hand, hit an all-time historic low. Not since BH began counting rigs in 1940 has the count been this low. Yuck.

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