U.S. Rig Count Drops 2 @ 547; Marcellus/Utica Remains Even @ 37

After gaining rigs for four weeks in a row, the Baker Hughes U.S. national rig count stayed even two weeks ago, neither gaining nor (more importantly) losing any rigs (see U.S. Rig Count Remained Even @ 549; Pa. Lost 1 Marcellus Rig). Last week we returned to losing rigs, with the national count down by two to 547. Pennsylvania lost one rig two weeks ago, from 18 to 17, after maintaining its count for 10 consecutive weeks. Last week, PA remained static at 17. Ohio kept 13 rigs in the Utica for a third week. West Virginia kept its seven active rigs, the same number since May 30. The combined M-U count was 37 rigs, with 23 rigs targeting the Marcellus layer and 14 targeting the Utica.

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