Marcellus Minutes is a subscription-based newsletter sent to all subscribers registered through the Marcellus Minutes website that contains information on legislation including bill tracking, committee hearings and news from the Capitol in Harrisburg. Access to the website is free and provided to those directly involved and those with an interest in Pennsylvania’s oil and gas industry.

Biggest US Rig Count Rise in a Year: What Does It Change?

According to oilfield service company Baker Hughes (BHI), there were 876 active oil and gas rigs in the United States in the week ended July 24, 2015. This is 19 more rigs than in the previous week, which ended July 17. This is the third weekly rise in the US rig count in the past four weeks. This also marks the biggest increase in the number of active rigs since August 2014. Until the week ended June 19, the US rig count had fallen consecutively for 28 weeks.

With last week’s rise, the four-week average change in the US rig count increased to four. In comparison, the four-week average change was zero for the week ended July 17. Four-week averages offer a smoother view of this trend, which is otherwise quite volatile on a weekly basis.

Read More

 Marcellus Minutes © 2015 | 4075 Linglestown Road, PMB 356 | Harrisburg, PA 17112 | Bigley and Blikle, LLC