Baker Hughes U.S. Rig Count Drops 3 @ 617, M-U Even @ 42

Last week, the Baker Hughes rig count dropped three more rigs. It is the fourth week in a row the count has dropped. The count went from 620 active rigs two weeks ago down to 617 last week. 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 national count is 18% lower than this time last year (down 131 rigs). The Marcellus/Utica remained the same last week at 42 active rigs --- the fourth week in a row for that count. Pennsylvania operates 22 rigs; Ohio operates 12 rigs; and West Virginia operates 8 rigs.

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