Including gains in the Marcellus Shale, the U.S. natural gas rig count climbed three units to 120 for the week ended Friday (Jan. 19), according to the latest tally from Baker Hughes Co. (BKR).
After a two-rig decline in oil drilling, the combined U.S. rig count finished at 620, up one week/week. That’s down from 771 active domestic rigs at this time a year ago, according to the BKR numbers, which are partly based on data from Enverus.
Land drilling saw a net increase of one rig domestically, while the Gulf of Mexico count held steady at 18. An increase of two vertical rigs in the United States was partly offset by the loss of one horizontal rig, BKR data show.
Canada added 10 rigs week/week to finish with 223, versus 241 in the year-earlier period. Gains there included...
Spurred on by dipping production figures amid springtime pipeline maintenance, natural gas futures continued to find upward momentum in early trading Wednesday. With bulls aiming to send prices higher for a fifth consecutive session, June Nymex futures were up 5.4 cents to $2.261/MMBtu at around 8:45 a.m. ET. Domestic production totaled 95.1 Bcf/d in early…