U.S. Rig Count Goes Up First Time in 10 Weeks – M-U Stays Even

July 10, 2023July 10, 2023

The weekly rig count for the U.S. finally, after nine straight weeks in a row, turned around--just a bit. With its venerable rig count, Baker Hughes reported last Friday that overall, the U.S. rig count added six rigs, reversing a downward trend. There were 680 active rigs for the week ending July 7. Both the Marcellus and the Utica maintained the same rig levels for the past four weeks in a row with a cumulative 48 rigs. That number is down from an average of 52 it had been running for the first five months this year. The good news is that we haven't lost any more rigs.

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