No Change in M-U Rig Count @ 34; No Change in Nat’l Rig Count @ 589

The Baker Hughes national rig count dramatically increased three weeks ago, adding seven rigs for a national count of 589 (see OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589). For the past three weeks, we have held on to the gains made (still at 589), including last week. Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). The Ohio Utica lost one rig three weeks ago, and the Pennsylvania Marcellus picked it up. Two weeks ago, PA lost the rig it picked up the week prior. Last week, nothing changed; the combined M-U count stands at 34 for two weeks in a row, with PA at 15 rigs, OH at 9 rigs, and WV at 10 rigs.

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