Baker Hughes

The Baker Hughes U.S. rig count has been hemorrhaging for 11 consecutive weeks. Last week, the U.S. rig count declined by another two rigs to its lowest level since October 2021, ending the week at 537 active rigs. You have to go back to the dark days of the pandemic, July 2020, for the previous 11+ consecutive weeks of decline in the rig count. The Marcellus/Utica stayed even (after falling by one two weeks ago) at a combined 35 active rigs. There were 23 rigs targeting the Marcellus and 12 rigs targeting the Utica last week. Read More “BH U.S. Rig Count Down 11th Week in a Row @ 537; M-U Even @ 35”

It’s bloody. It’s brutal. Last week, for the ninth consecutive week, the Baker Hughes U.S. rig count declined (by seven rigs) to its lowest level since October 2021, ending the week at 547 active rigs. The national rig count continues in a free fall. For the fifth week in a row, the Marcellus/Utica count remained the same, at a combined 36 active rigs. The Pennsylvania Marcellus operated 18 rigs. The Ohio Utica operated 11 rigs. And West Virginia operated seven rigs. So, at least there’s some good news with respect to the M-U. Read More “Nat’l Rig Count Drops 7 @ 547; Marc. Even @ 24, Utica Even @ 12”

Last week, for the eighth week in a row, the Baker Hughes U.S. rig count dropped, down by one rig to its lowest level since November 2021. This is the first time we’ve seen a slide in the count for eight weeks (or more) since September 2023. The national rig count continues in free fall, although perhaps the rate of descent is slowing. The Marcellus/Utica count remained the same last week, at a combined 36 active rigs. The Pennsylvania Marcellus operated 18 rigs. The Ohio Utica operated 11 rigs. And West Virginia operated seven rigs. Read More “Nat’l Rig Count Drops 1 @ 554; Marc. Even @ 24, Utica Even @ 12”

Last week, for the sixth week in a row, the Baker Hughes U.S. rig count dropped, down another four rigs to its lowest level since November 2021. It was the first time since September 2023 that the count has fallen for six (or more) weeks in a row. Free fallin’. However, the Marcellus/Utica count remained the same, at a combined 36 active rigs. The Pennsylvania Marcellus operated 18 rigs. The Ohio Utica operated 11 rigs. And West Virginia operated seven rigs. Read More “Nat’l Rig Count Drops 4 @ 559; Marc. Even @ 24, Utica Even @ 12”

Last week, for the fifth week in a row, the Baker Hughes U.S. rig count dropped, down another three rigs to its lowest level since November 2021. There were changes among the Marcellus/Utica states, too. The combined M-U count dropped by one to 36 active rigs. The Pennsylvania Marcellus gained one rig, now at 18 rigs. The Ohio Utica dropped one of the two rigs it picked up two weeks ago and now stands at 11 rigs. West Virginia also dropped a rig and now runs only seven rigs. Read More “Nat’l Rig Count Down 3 @ 563; Marc. Even @ 24, Utica Drops 1 @ 12”

The Baker Hughes U.S. rig count dropped like a rock last week, down 10 rigs to its lowest level since November 2021. It is the first time the count has slumped for four consecutive weeks since 2024. On a happier note, the combined Marcellus/Utica count rose by two rigs to 37 active rigs. However, there was a change between the plays (and states) in the M-U. The Pennsylvania Marcellus lost one rig, now at 17 rigs, while the Ohio Utica picked up two rigs, now at 12 rigs. West Virginia remained the same with eight active rigs. Read More “Nat’l Rig Count Drops 10 @ 566; Marc. Down 1 @ 24, Utica Adds 2 @ 13”

The U.S. national rig count lost two more rigs last week, going from 578 to 576, tying January 24th of this year as the lowest national rig count in the past 12 months. Rigs targeting the Marcellus layer remained the same with 25 rigs last week, while the Utica (in Ohio) picked up one rig and now operates 11 rigs for a combined total of 36. Pennsylvania was static with 18 rigs, Ohio moved up from nine to ten rigs, and West Virginia remained the same with eight rigs. Read More “Nat’l Rig Count Down 2 @ 576; Marcellus Even @ 25, Utica Adds 1 @ 11”

We’re catching up on two weeks of changes in the rig count, and wow! Things changed. And NOT in a good way. The national count lost nine rigs over the past two weeks, going from 587 on April 25 to 584 on May 2 and then down to 578 on May 9. But it was the Marcellus/Utica that caught our attention. Two weeks ago, for the May 2 Baker Hughes rig count, Ohio dropped three rigs in a single week, going from 12 on April 25 to nine on May 2. The Ohio count remained at nine on May 9. Consequently, the combined M-U count went from 38 two weeks ago to 35 and has remained at that level. Both Pennsylvania and West Virginia kept their same counts of 18 and 8, respectively. Read More “Nat’l Rig Count Down 9 @ 578; Marcellus Even @ 25, Utica Down 3 @ 10”

The Baker Hughes U.S. national rig count crept up again last week, adding two more rigs after adding two in the prior week. The U.S. count now stands at 587 active rigs. The M-U rig count remained the same at a combined 38 last week—the second week in a row. We are at the highest combined M-U count since May of 2024. The Marcellus kept its 25 rigs across the three M-U states of Pennsylvania, West Virginia, and Ohio. The Utica kept its 13 rigs across the same three states, mainly in Ohio. PA had 18 active rigs for the second week — the highest number it has had since last August. OH operated 12 rigs for the second week in a row, the most active rigs in the Buckeye State in over a year. WV dropped maintained eight rigs for a second week, the lowest number of active rigs in the Mountain State since last September. Read More “Nat’l Rig Count Adds 2 @ 587; Marcellus Even @ 25, Utica Even @ 13”

The Baker Hughes U.S. national rig count recovered somewhat last week, adding two rigs after losing seven rigs two weeks ago. The U.S. count now stands at 585 active rigs. There was big news for the Marcellus/Utica. The combined M-U rig count was 38 last week. That is the highest M-U combined count in almost one year—since May of 2024. The Marcellus added the one rig it lost the prior week and now stands at 25 rigs across the three M-U states of Pennsylvania, West Virginia, and Ohio. Rigs focused on the Utica added two, and now stands at 13 rigs. PA was a big winner, adding two rigs, now with 18 active rigs — the highest number it has had since last August. However, OH also added two rigs and now operates 12, the most active rigs in the Buckeye State in over a year. Read More “Nat’l Rig Count Adds 2 @ 585; Marcellus Up 1 @ 25, Utica Up 2 @ 13”

The Baker Hughes U.S. national rig count cratered last week, losing seven rigs. The U.S. count is now 583 active rigs, the biggest weekly decline since June 2024. As for the Marcellus/Utica, the rig count was a combined 35 last week, losing one rig it had gained the week before. The Marcellus lost one of the two rigs it had gained two weeks ago and now sports 24 rigs across the three M-U states of Pennsylvania, West Virginia, and Ohio. Rigs focused on the Utica remained unchanged at a combined 11. However, there were shifts among two of the three M-U states. PA picked up one rig and now operates 16 rigs. The last time PA operated 16 rigs was last December. The biggest news is that WV, which had operated 10 or more rigs for most of the past year (34 weeks in a row), broke its streak and lost two rigs. WV now operates nine rigs. Read More “Nat’l Rig Count Drops 7 @ 583; Marcellus Down 1 @ 24, Utica Even @ 11”

The Baker Hughes U.S. national rig count lost two rigs last week and now operates 590 active rigs. As for the Marcellus/Utica, the rig count was a combined 36 last week—the highest it has been since last August! Rigs focused on the Marcellus were up by two to a combined 25 across the three M-U states of Pennsylvania, West Virginia, and Ohio. Rigs focused on the Utica dropped one rig (after increasing by one the week before), now at a combined 11. PA had operated 15 rigs (or more) for 19 weeks straight. That streak was broken two weeks ago when PA lost a rig. PA picked it back up again and had 15 active rigs last week. OH had operated nine rigs for 16 weeks in a row but picked up one two weeks ago and kept it, meaning the dropped Utica rig from last week was in either PA or WV. Likely, the rig was repurposed from Utica to Marcellus in PA. OH currently operates ten active rigs. WV had operated 10 rigs for an astonishing 23 weeks in a row. Seven weeks ago, WV added (and has kept) one additional rig and continues to operate 11 active rigs. Read More “Nat’l Rig Count Down 2 @ 590; Marcellus Up 2 @ 25, Utica Down 1 @ 11”

The Baker Hughes U.S. national rig count lost one rig last week (after gaining one the week before), now operating 592 active rigs. As for the Marcellus/Utica, the rig count was a combined 35 last week. However, there was a notable change in the totals. Rigs focused on the Marcellus were down by one to a combined 23 across the three M-U states of Pennsylvania, West Virginia, and Ohio. Rigs focused on the Utica picked up the lost Marcellus rig, now at a combined 12. PA had operated 15 rigs (or more) for 19 weeks straight. That streak was broken last week when PA lost a rig. OH had operated nine rigs for 16 weeks in a row but picked up one last week and now stands at ten active rigs. WV had operated 10 rigs for an astonishing 23 weeks in a row. Six weeks ago, WV added (and has kept) one additional rig and operates 11 active rigs. Read More “Nat’l Rig Count Down 1 @ 592; Marcellus Down 1 @ 23, Utica Up 1 @ 12”

The Baker Hughes U.S. national rig count gained one rig last week, now at 593 active rigs. As for the Marcellus/Utica, the rig count was a combined 35 last week. Rigs focused on the Marcellus were a combined 24 across the three M-U states of Pennsylvania, West Virginia, and Ohio. Rigs focused on the Utica were a combined 11. PA has operated 15 rigs (or more) for the past 19 weeks. OH has operated nine rigs for the past 16 weeks. WV had operated 10 rigs for an astonishing 23 weeks in a row. Five weeks ago, WV added (and has kept) one additional rig and now operates 11 active rigs. Read More “Nat’l Rig Count Up 1 @ 593; Marcellus Even @ 24, Utica Even @ 11”