Ohio Sheds a Rig, M-U Falls to 34; National Count Holds at 588

The Marcellus/Utica finally moved last week — in the wrong direction. Ohio dropped a rig, taking the M-U to 34 and ending a three-week stall at 35. Nationally, the count didn't budge at all, holding at 588. But that flat number hides something: oil rigs fell five while gas rigs gained five, and not one of those new gas rigs showed up here. Frac spreads slipped again too, down four to 180 — the second straight weekly decline.

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