Rig Count: 10 Weeks at 33 in M-U; Devon Drops Off Permit List

Ten weeks. Still 33. The Marcellus/Utica held at 33 rigs for the week ended November 6, a tenth straight week at the same number. The national count finally broke its four-week stay at 603, edging up one to 604, a new 52-week high. Oil rigs added one and gas rigs added one. Frac spreads climbed by four, ending a three-week slide. On the price board, it was a tale of two commodities: WTI fell 12.76% for the week, back down to $90.83 a barrel, while December natural gas rose 10 cents to $2.998 per MMBtu, a whisker under $3. Plus: Devon drops off the Enverus permit list after four weeks at nine, Range Resources' permits fall back to earth, and EQT and EOG are now tied for the top spot on the rig list.

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