U.S. Rig Count Up 2nd Week in Row – Gains 2 @ 624, M-U Even @ 39

The U.S. rig count rose last week for the second week in a row, albeit just slightly. The national rig count added a piddly two rigs for 624 active rigs. We remain near the lowest point of active rigs running since February 2022. It feels like a dead cat bounce to us. The count in the Marcellus/Utica, after gaining one rig two weeks ago (in Pennsylvania), remained steady at 39 active rigs last week. The M-U's biggest competitor, the Haynesville, added three rigs last week and now sports 40 active rigs, one more than the M-U. Darnit!

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