M-U Rig Count Declined 37% (19 Rigs) from Dec 2022 to Dec 2024

The number of rigs deployed to drill for natural gas in the United States decreased over the last two years, according to stats from the U.S. Energy Information Administration (EIA). U.S. natural gas-directed rigs decreased 32% (50 rigs) between December 2022 and December 2024. The decline was concentrated in the natural gas-rich Haynesville and Marcellus/Utica regions, where the combined natural gas rig count declined by 34% during 2023 (43 rigs) and by 24% during 2024 (21 rigs). In the M-U region, rigs declined 37% since December 2022 (19 rigs). However, it's not the end of the world. Don't jump off that cliff just yet.

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