Baker Hughes U.S. Rig Count Loses 6 @ 594, M-U Drops 2 @ 36
Well, the bottom dropped out of the rig count last week once again. The national combined oil and gas rig count dropped by six to 594, the lowest it has been since January 2022. The Marcellus/Utica did not go unscathed either, losing two rigs. Pennsylvania lost one rig and now operates 21 rigs. Ohio remained steady with ten active rigs. However, West Virginia lost another rig and now only has five active rigs. One year ago this week, WV operated 13 active rigs. Yuck.
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