U.S. Rig Count Drops Another 5 Rigs, M-U Loses 2 More Rigs

For the third week in a row and the 12th time in the last 13 weeks, the U.S. active rig count lost rigs. Last week the number decreased by five rigs after falling six rigs the week before (see U.S. Rig Count Drops Another 6 Rigs, Now Lowest Level in 16 Mos.). Both the Marcellus and the Utica dropped one rig each for a combined M-U rig count of 46. Some 13 weeks ago, the M-U lost four rigs (going from 53 down to 49). Six weeks ago, we lost another rig, down to 48. And now, we've lost two more. The trend is not our friend.

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