Baker Hughes U.S. Rig Count Down 10th Week in a Row, M-U Down 1
Quick! Somebody grab a tourniquet and tie it to the Baker Hughes U.S. rig count. The count has been hemorrhaging large numbers of rigs for 10 consecutive weeks. Last week (an early week with the count issued on Thursday), the U.S. rig count declined by another eight rigs to its lowest level since October 2021, ending the week at 539 active rigs. You have to go back to the dark days of the pandemic, July 2020, for the previous 10+ consecutive weeks of decline in the rig count. The Marcellus/Utica was clipped by one rig (in Pennsylvania), falling from a combined 36 to 35. Read More “Baker Hughes U.S. Rig Count Down 10th Week in a Row, M-U Down 1”