Trend Continues: U.S. Rig Count Down 4 @ 619, M-U Steady @ 38

The U.S. rig count dropped again last week, for the third week in a row. The count shed another four active rigs, now down to 619 --- the lowest point since February 2022. The count in the Marcellus/Utica, after falling by one two weeks ago, held steady last week at 38, which is the lowest it has been since the beginning of this year. The national rig count is down 143, or 19%, below this time last year. There's no indicator the trend will reverse anytime soon.

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