The slight rise in the national rig count, with the count going up by one or two rigs a week over the past five weeks (what we call a “dead cat bounce”), is over. The Baker Hughes U.S. rig count lost ground again last week. The count went from 626 active rigs two weeks ago down to 623 last week. The Marcellus/Utica stayed even at 41 active rigs last week.
The slight rise in the national rig count, with the count going up by one or two rigs a week over the past five weeks (what we call a “dead cat bounce”), is over. The Baker Hughes U.S. rig count lost ground again last week. The count went from 626 active rigs two weeks ago down to 623 last week. The Marcellus/Utica stayed even at 41 active rigs last week.