U.S. Rig Count Drops 5 Erasing Most Gains – M-U Stays Even 2nd Wk

The yo-yo behavior of the national rig count continues. Two weeks ago, the U.S. rig count broke a nine-week-straight decline by adding six rigs (see U.S. Rig Count Goes Up First Time in 10 Weeks – M-U Stays Even). The trend had been pretty dismal for the past several months. Then that ray of sunshine. However, the clouds appeared again last week when the count dropped five rigs--four of them in the oil-focused Permian Basin, and one in the gassy Haynesville Shale.

---

To view this content, log into your member account. (Not a member? Join Today!)