In what has become a repeating pattern, indicating we may have hit bottom, last week, the Baker Hughes U.S. rig count added two rigs, going from 620 two weeks ago to 622 last week. The pattern is to lose a few and then gain a few every couple of weeks. After Pennsylvania lost a rig two weeks ago (see Baker Hughes U.S. Rig Count Loses 3 @ 620, M-U Drops 1 @ 40), the rig count for the three combined Marcellus/Utica states remained the same last week at 40 active rigs. Disappointingly (for the M-U), the Haynesville, our main competitor (for drillers and money), remained at 44 active rigs last week.
In what has become a repeating pattern, indicating we may have hit bottom, last week, the Baker Hughes U.S. rig count added two rigs, going from 620 two weeks ago to 622 last week. The pattern is to lose a few and then gain a few every couple of weeks. After Pennsylvania lost a rig two weeks ago (see 