US Oil & Gas Rig Count Rises 25 Months in a Row, M-U Up in 2022

We spotted a Reuters story with the headline, "U.S. oil & gas rig count falls for first time in 25 months - Baker Hughes." We thought, "Oh oh, has the recovery in drilling finally peaked?" So we dug out the numbers for ourselves. We wanted to know how rig counts in the M-U (in PA, OH, and WV) are doing, as well as the total U.S. rig count. What we found is that the Reuters story is not accurate--one of the very few times we've observed Reuters being wrong about something.

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