Baker Hughes U.S. Rig Count Stopped Bleeding, Gained 1 Rig Last Week

Last week, the rig count bleeding stopped, at least temporarily, with the addition of one rig to the Baker Hughes U.S. rig count. We ended the week with 537 active rigs. The count has been down 16 of the last 19 weeks, beginning on May 2. Fortunately, the Marcellus/Utica count has remained constant for the past seven 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. Baker Hughes said oil rigs rose by two to 414 last week, while gas rigs fell by one to 118.

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