Rig Count Increases for 11th Time in Past 12 Weeks

Activity is up 14% in the last month, but down 51% year-over-year. According to Enverus, the positive gas outlook is likely drawing drillers back to gassier plays, such as Appalachia.

In the last month, Appalachian rigs have increased by eight to 39. Cabot Oil & Gas has returned to a three-rig program after dropping to two from mid-March through the end of November. PennEnergy Resources is running two rigs for the first time since 2018. Haynesville rig activity is back at January 2020 levels (40 rigs). The most active operators in the region are Aethon Energy (eight rigs), Rockcliff Energy (five) and Comstock Resources (five).

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