The Enverus rig count, as of Wednesday, stood at 821, up by three from the week before. We are only 17 rigs away from the pre-pandemic high of 838 rigs. Last week the Marcellus operated 41 rigs (down by two), while the Utica operated 11 rigs (down by one), for a total of 52 active rigs in the M-U, lower than in previous weeks. According to S&P’s read of the situation, rig count additions appear to be slowing down. Despite high oil prices, drillers are still unwilling to drill, drill, drill.
The Enverus rig count, as of Wednesday, stood at 821, up by three from the week before. We are only 17 rigs away from the pre-pandemic high of 838 rigs. Last week the Marcellus operated 41 rigs (down by two), while the Utica operated 11 rigs (down by one), for a total of 52 active rigs in the M-U, lower than in previous weeks. According to S&P’s read of the situation, rig count additions appear to be slowing down. Despite high oil prices, drillers are still unwilling to drill, drill, drill.