West Virginia

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”

The Baker Hughes national rig count dramatically increased three weeks ago, adding seven rigs for a national count of 589 (see OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589). For the past three weeks, we have held on to the gains made (still at 589), including last week. Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). The Ohio Utica lost one rig three weeks ago, and the Pennsylvania Marcellus picked it up. Two weeks ago, PA lost the rig it picked up the week prior. Last week, nothing changed; the combined M-U count stands at 34 for two weeks in a row, with PA at 15 rigs, OH at 9 rigs, and WV at 10 rigs. Read More “No Change in M-U Rig Count @ 34; No Change in Nat’l Rig Count @ 589”

The Baker Hughes national rig count dramatically increased two weeks ago, adding seven rigs for a national count of 589 (see OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589). Last week, the national count didn’t change, and we are holding on to the gains made the previous week (still at 589). Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). Two weeks ago, the Ohio Utica lost one rig, and the Pennsylvania Marcellus picked it up. However, last week, PA lost the rig once again, so the combined M-U count now stands at 34, down one rig from the previous week. Read More “PA Drops 1 Rig, M-U @ 34; National Rigs Keep Gains, Even @ 589”

The Baker Hughes national rig count dramatically increased last week, adding seven rigs for a national count of 589. Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). Will we break out of the rut and go higher? Stay tuned. Meanwhile, the Ohio Utica lost one rig last week, but the Pennsylvania Marcellus picked it up, keeping the combined M-U count at 35. Read More “OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589”

The Baker Hughes national rig count dropped another rig last week and now sits at 582. The national count continues to be rangebound between 581 and 589 since June. Slicing the national count slightly differently—by oil-focused vs. gas-focused rigs—oil rigs fell by two to 477 last week, their lowest since July, while gas rigs rose by one to 100. Last week, all three Marcellus/Utica states maintained the same count for the third week in a row, with PA operating 15 active rigs and Ohio and West Virginia operating 10 rigs each, for a combined 35 rigs. That’s the third week in a row the M-U has operated 35 rigs. It feels like the doom and gloom is finally starting to lift. Read More “M-U Rigs Steady @ 35; National Rig Count Drops Another Rig @ 582”

The rig count in the Marcellus/Utica appears to have stabilized, and that’s a good thing. For a while, it was in freefall, at least in Pennsylvania. In October, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Since then, PA has recovered a few rigs, clawing and scratching every inch of the way. Last week, the PA count stood at 15, the same as the prior week. Ohio and West Virginia held steady, with ten active rigs each. The M-U had a combined 35 rigs operating for the second week in a row, the most since August. Read More “M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583”