Last week, the Baker Hughes rig count added the seven rigs it had lost the week before. The count went from 622 active rigs two weeks ago back up to 629 last week. The national count is officially rangebound. Since last October, the national count has gone as low as 616 and as high as 629. And that’s it. No higher and no lower. The Marcellus/Utica cumulatively lost one rig last week and now runs 43 rigs. Pennsylvania lost two rigs and now operates 22 rigs. Ohio stayed the same at 12 rigs. And West Virginia picked up one of PA’s rigs and now operates nine rigs (up from eight the prior week).
Last week, the Baker Hughes rig count added the seven rigs it had lost the week before. The count went from 622 active rigs two weeks ago back up to 629 last week. The national count is officially rangebound. Since last October, the national count has gone as low as 616 and as high as 629. And that’s it. No higher and no lower. The Marcellus/Utica cumulatively lost one rig last week and now runs 43 rigs. Pennsylvania lost two rigs and now operates 22 rigs. Ohio stayed the same at 12 rigs. And West Virginia picked up one of PA’s rigs and now operates nine rigs (up from eight the prior week).