Baker Hughes U.S. Rig Count Drops 6 @ 613, M-U Drops 1 @ 40

Last week, the Baker Hughes U.S. rig count lost six rigs, down to 613, the lowest the count has been since February of 2022. Since last October, the national count had gone as low as 616 and as high as 629, and that was it. No higher and no lower. That is, until last week when we crashed through the floor and went lower, down to 613. The Marcellus/Utica lost one rig last week and now runs 40 rigs. Pennsylvania lost one rig and now runs 21 rigs; Ohio (which lost one rig two weeks ago) remained static with 11 active rigs; and West Virginia remained the same with 8 rigs.

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