U.S. rig count falls due to reduced natural gas activity

U.S. rig count falls due to reduced natural gas activity

Tuesday, July 5, 2022 by Sara Welch

The U.S. rig count fell by three units to 750 during the week ended July 1, as the natural gas rig count fell four and offset the one-rig increase in oil rigs, according to the latest numbers from Baker Hughes Co.

However, compared to a year ago the U.S. rig count is up significantly from 475 in 2021.

Declining by four units during this time period, the natural gas rig count stood at 153 on July 1. The Marcellus and Utica shales each posted one-rig declines.

Learn more: Natural Gas Intelligence > U.S. Drilling Total Slides on drop in Natural Gas Activity

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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.

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