PA Drops 1 Rig, M-U @ 34; National Rigs Keep Gains, Even @ 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…

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OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 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…

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M-U Rigs Steady @ 35; National Rig Count Drops Another Rig @ 582

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…

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M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583

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;…

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PA Re-Adds a Rig to 14; National Rig Count Even 3rd Week @ 585

Three weeks ago, 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). Two weeks ago, PA picked up a rig, returning to 13 active rigs. Last week, Baker Hughes reported PA…

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PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585

The realignment we spoke of several weeks ago about Pennsylvania losing rigs to its neighbors has deepened. Last week, PA lost another rig, going from 13 rigs down to 12 rigs, while Ohio picked up one rig and now has 10 active rigs. West Virginia also operated 10 rigs last week. Just two months ago…

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PA Rig Count Stays Down, M-U @ 32; National Count Drops 1 @ 585

Two weeks ago, Pennsylvania lost two rigs, down to just 13 active rigs, the lowest PA’s rig count has been since July 2016 (see PA Craters, Drops 2 Rigs, M-U @ 32; National Rig Count Adds 1 @ 586). That’s the lowest rig count for PA in more than eight years. Last week, PA and…

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PA Picks Up One Rig, M-U @ 34; National Rig Count Drops 2 @ 585

Four weeks ago, MDN told you about a developing story of rig realignment in the Marcellus/Utica (see Rig Bloodbath Continues – Pennsylvania Loses 7 Rigs in 3 Weeks). As we reported, Pennsylvania was losing rigs, bleeding rigs, like crazy—four rigs gone in two weeks’ time. And West Virginia was gaining those lost rigs. PA’s rig…

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M-U Rig Count Realigns @ 33; National Rig Count Drops 1 @ 587

Three weeks ago, MDN told you about a developing story of rig realignment in the Marcellus/Utica (see Rig Bloodbath Continues – Pennsylvania Loses 7 Rigs in 3 Weeks). As we reported, Pennsylvania was losing rigs, bleeding rigs, like crazy—four rigs gone in two weeks’ time. And West Virginia was gaining those lost rigs. Two weeks…

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M-U Rig Count Stabilizes @ 33; National Rig Count Drops 2 @ 588

Two weeks ago, the national rig count, which counts all oil and gas rigs, added an astonishing eight rigs to the count after languishing for months — the biggest weekly gain in a year. As we told you, the Marcellus/Utica rig count from two weeks ago remained at 33, but that wasn’t the whole story (see…

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Rig Bloodbath Continues – Pennsylvania Loses 7 Rigs in 3 Weeks

Hidden in last Friday’s weekly Baker Hughes official rig count is a big story happening in the Marcellus/Utica. From the 30,000-foot level, Friday’s latest rig count report appeared just fine. The national rig count, which counts all oil and gas rigs, added an astonishing eight rigs to the count after languishing for months — the…

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Trend Accelerates: Pennsylvania Loses 2 More Rigs to West Virginia

A very big story is unfolding in the Marcellus/Utica, and nobody else is talking about it. There is a major reshuffling of rigs in the M-U, with Pennsylvania losing active rigs and West Virginia picking them up. Two weeks ago, PA dropped from 21 to 18 active rigs, the lowest count it has had in…

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Pennsylvania Dropped 3 Rigs Last Week, Lowest Count in 2.5 Years

The big news (for us) with the weekly Baker Hughes rig count is that last week, Pennsylvania laid down its use of three active drilling rigs, resulting in the lowest rig count in the state in 2 1/2 years. PA now operates 18 active rigs, down from 21 the week prior. The last time PA…

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