Baker Hughes U.S. Rig Count Bleeding Resumes, Lost 1 Rig Last Week

Last week, the Baker Hughes U.S. rig count resumed its downward trend, losing another rig from the week before to 538 active rigs nationwide. The count has been down (bleeding) 15 of the last 17 weeks. The Marcellus/Utica count remained the same for the past five weeks at a combined 36 active rigs. PA operated 18 active rigs. OH ran 11 rigs. And WV operated 7 rigs. Twenty-four rigs targeted the Marcellus and 12 rigs targeted the Utica last week. The downward trend is due to a scaleback in oil-focused drilling. Baker Hughes said oil rigs fell by one to 411 last week, while gas rigs held steady at 122.

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