U.S. Rig Count Drops Another 6 Rigs, Now Lowest Level in 16 Mos.

For the second week in a row and the 11th time in the last 12 weeks, the U.S. active rig count lost rigs. Last week the number decreased by six rigs, after falling five rigs the week before (see U.S. Rig Count Drops 5 Erasing Most Gains – M-U Stays Even 2nd Wk). Fortunately, the Marcellus/Utica maintained its count at 48 active rigs combined. However, 12 weeks ago, the M-U lost four rigs (going from 53 down to 49). Five weeks ago, we lost another rig, down to 48. And that’s where the count has remained (see the MDN chart below).

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