Baker Hughes

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

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

For the fourth week in a row, the Baker Hughes U.S. national rig count gained, instead of losing, rigs. Last week, the count increased by seven, to 549. The last time the count was higher was June 20. The even more exciting news is that the Ohio Utica picked up another rig, boosting the total in Ohio to 13, the highest it’s been in well over a year. Pennsylvania maintained its count of 18 active rigs, which it has maintained since July 25 (two months). West Virginia kept its seven active rigs, the same number since May 30 (four months). The combined M-U count was 38 rigs, with 24 rigs targeting the Marcellus layer and 14 targeting the Utica. Read More “U.S. Rig Count Gained 4th Week in a Row, Up 7 @ 549; M-U Up 1 @ 38”

We continue to eek out progress with the rig report. Last week, the national rig count added three rigs after adding two the prior week and one three weeks ago. We’ve added rigs for three weeks in a row! We ended last week with 542 active rigs across the country. The Utica Shale in Ohio added one rig two weeks ago and kept it last week. The combined count was 37 for two weeks running. PA operated 18 active rigs last week. OH operated 12 rigs. And WV operated 7 rigs. Twenty-four rigs targeted the Marcellus and 13 rigs targeted the Utica last week. Read More “Baker Hughes U.S. Rig Count Gained 3 Rigs, M-U Keeps a Combined 37”

Finally, some good news to report on the U.S. and Marcellus/Utica rig count. Last week, the national rig count added two rigs after adding one the prior week, the first time we’ve added rigs for two weeks in a row since April of this year. We ended the week with 539 active rigs. In some even better news, the Utica Shale in Ohio added a rig last week, the first rig added to the M-U count since July 25. In fact, the combined count (37) has not been this high since May 23. Break out the party hats! Read More “Baker Hughes U.S. Rig Count Gained 2 Rigs, Utica Gained 1 Last Wk”

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. Read More “Baker Hughes U.S. Rig Count Stopped Bleeding, Gained 1 Rig Last Week”

Two weeks ago, the Baker Hughes U.S. rig count resumed a downward trend, which continued last week. The count lost another two rigs to end the week at 536. The count has been down (bleeding) 16 of the last 18 weeks. Fortunately, the Marcellus/Utica count has remained constant for the past six 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. The overall downward trend in the national count is due to a slowdown in oil-focused drilling, although last week’s figures reversed this trend. Baker Hughes said oil rigs rose by one to 412 last week, while gas rigs fell by three to 119. Read More “Baker Hughes U.S. Rig Count More Bleeding, Lost 2 Rigs Last Week”

Last week, the Baker Hughes U.S. rig count resumed its downward trend, losing another rig from the week before to 538 active rigs nationwide. The count has been down (bleeding) 15 of the last 17 weeks. The Marcellus/Utica count remained the same for the past five 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. The downward trend is due to a scaleback in oil-focused drilling. Baker Hughes said oil rigs fell by one to 411 last week, while gas rigs held steady at 122. Read More “Baker Hughes U.S. Rig Count Bleeding Resumes, Lost 1 Rig Last Week”

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”