M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583

The rig count in the Marcellus/Utica appears to have stabilized, and that's a good thing. For a while, it was in freefall, at least in Pennsylvania. In October, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Since then, PA has recovered a few rigs, clawing and scratching every inch of the way. Last week, the PA count stood at 15, the same as the prior week. Ohio and West Virginia held steady, with ten active rigs each. The M-U had a combined 35 rigs operating for the second week in a row, the most since August.

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