National Rig Count Gains 4 @ 592; M-U Rig Count Adds 1 @ 35

For the fourth week in a row, the Baker Hughes U.S. rig count added rigs---to the highest level since last June! Three weeks ago, the rig count gained four rigs to 586. Two weeks ago, the count regained another two rigs to 588. Last week, the count added four new rigs for 592. Note that the national count remained in a tight range of 581-589 for much of last year. We've just broken through. As for the Marcellus/Utica, the rig count was a combined 35 last week, adding a new rig to the mix. The new rig was added in West Virginia.

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