Baker Hughes

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”

After five weeks of adding rigs, the Baker Hughes U.S. rig count decreased by a single rig last week. The national rig count now stands at 592. As for the Marcellus/Utica, the rig count was a combined 35 last week, retaining a rig added in West Virginia three weeks ago. 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 17 weeks. OH has operated nine rigs for the past 14 weeks. WV had operated 10 rigs for an astonishing 23 weeks in a row. Three weeks ago, WV added (and has kept) one additional rig and now operates 11 active rigs. Good things are happening in the Mountain State. Read More “Nat’l Rig Count Down 1 @ 592; Marcellus Even @ 24, Utica Even @ 11”

For the fifth week in a row, the Baker Hughes U.S. rig count added rigs—the first time that has happened since May 2022. Last week, the count added a single new rig for a new total of 593. The national count remained in a tight range of 581-589 for much of last year. We’ve officially broken through that range. However, note that the national count is still 6% (36 rigs) below what it was last year at this time. As for the Marcellus/Utica, the rig count was a combined 35 last week, retaining a rig added in West Virginia two weeks ago. It just feels like the sun is shining again! Read More “National Rig Count Gains 1 @ 593; M-U Rig Count Even @ 35”

For the fourth week in a row, the Baker Hughes U.S. rig count added rigs—to the highest level since last June! Three weeks ago, the rig count gained four rigs to 586. Two weeks ago, the count regained another two rigs to 588. Last week, the count added four new rigs for 592. Note that the national count remained in a tight range of 581-589 for much of last year. We’ve just broken through. As for the Marcellus/Utica, the rig count was a combined 35 last week, adding a new rig to the mix. The new rig was added in West Virginia. Read More “National Rig Count Gains 4 @ 592; M-U Rig Count Adds 1 @ 35”

For the third week in a row, the Baker Hughes U.S. rig count regained some of the rigs lost earlier this year. Two weeks ago, the rig count gained four rigs to 586. Last week the count regained another two rigs to 588. Note that for much of last year, the national count remained in a very tight range of 581-589. It seems like equilibrium is returning. As for the Marcellus/Utica, the rig count was a combined 34 last week—the same number for ten weeks in a row. It looks like we’ve hit an equilibrium in the M-U, too. Read More “National Rig Count Gains 2 @ 588; M-U Count Steady @ 34”

For the second week in a row, the Baker Hughes U.S. rig count regained some of the rigs lost in prior weeks. Two weeks ago, the rig count gained six rigs (see National Rig Count Gains 6 @ 582; M-U Count Steady @ 34). Last week, the rig count gained another four rigs to 586. Note that for much of last year, the national count remained in a very tight range of 581-589. It seems like that equilibrium is returning after the recent drop below 580. As for the Marcellus/Utica, the rig count was a combined 34 last week—the same number for eight weeks in a row. It looks like we’ve hit an equilibrium here, too. Read More “National Rig Count Gains 4 @ 586; M-U Count Steady @ 34”

Prior to last week, the Baker Hughes national rig count had been in a freefall for weeks, dropping to a 3+ year low of 576 (see National Rig Count Falls Again, Lowest in 3+ Years; M-U Steady). Last week, the trend finally turned around. The national count gained six rigs to 582. The Marcellus/Utica rig count was a combined 34 last week—the same number for seven weeks in a row. PA has operated 15 rigs for the past 12 weeks, with the exception of one week, when the number briefly increased to 16 rigs. OH has operated nine rigs for the past nine weeks, and WV has operated 10 rigs for an astonishing 21 weeks in a row, going back to Sep. 13 of last year. Read More “National Rig Count Gains 6 @ 582; M-U Count Steady @ 34”

We’re in full crash mode with the Baker Hughes national rig count. After losing five rigs three weeks ago, and four more two weeks ago, the BH rig count lost another four rigs last week—13 rigs out of circulation in three weeks. The number of rigs nationally now stands at 576, the lowest since Dec. 2021 (over three years ago). The Marcellus/Utica rig count was a combined 34 last week—the same number for six weeks in a row. PA has operated 15 rigs for the past 11 weeks, with the exception of one week, when the number briefly increased to 16 rigs. OH has operated nine rigs for the past eight weeks, and WV has operated 10 rigs for an astonishing 20 weeks in a row, going back to Sep. 13. Read More “National Rig Count Falls Again, Lowest in 3+ Years; M-U Steady”

After losing five rigs two weeks ago, the Baker Hughes national rig count lost another four last week. The number of rigs nationally now stands at 580, the lowest since Dec. 2021 (over three years ago). The Marcellus/Utica rig count was a combined 34 last week—the same number for five weeks in a row. PA has operated 15 rigs for the past ten weeks, with the exception of one week, when the number briefly increased to 16 rigs (the week ending on Dec. 6). OH has operated nine rigs for the past seven weeks, and WV has operated 10 rigs for an astonishing 19 weeks in a row, going back to Sep. 13. Read More “National Rig Count Whacked, Down 9 in Two Weeks; M-U Count Steady”

After remaining at the same level for five weeks in a row, the Baker Hughes U.S. rig count lost five rigs last week, dropping from 589 to 584. The Marcellus/Utica rig count was a combined 34 last week—the same number for five weeks in a row. PA has operated 15 rigs for the past nine weeks, with the exception of one week, when the number briefly increased to 16 rigs (the week ending on Dec. 6). OH has operated nine rigs for the past six weeks, and WV has operated 10 rigs for an astonishing 18 weeks in a row, going back to Sep. 13. Read More “Baker Hughes Nat’l Rig Count Loses 5, M-U Rig Count No Change”

The venerable Baker Hughes national rig count was 589 active rigs last week—which is FIVE weeks in a row. Very unusual. The Marcellus/Utica rig count was a combined 34 last week—the same number for FOUR weeks in a row. The national count remains rangebound between 581 and 589 since June 2024 (except for Sep. 13, when it hit 590 for a single week). The M-U remained static last week, with PA at 15 rigs, OH at 9 rigs, and WV at 10 rigs. Read More “No Change in M-U, Nat’l Baker Hughes Rig Counts 2nd Week in a Row”

This is an interesting pattern we’ve not seen in a long time for the venerable Baker Hughes rig count. The national rig count and the count for the Marcellus/Utica remained the same for multiple weeks in a row. The national count was 589 active rigs last week (now four weeks in a row). The M-U count was 34 last week (now three weeks in a row). The national count remains rangebound between 581 and 589 since June 2024 (except for Sep. 13, when it hit 590 for a single week). The M-U remained static last week, with PA at 15 rigs, OH at 9 rigs, and WV at 10 rigs. Read More “No Change in Either M-U Or National Baker Hughes Rig Counts”