The U.S. rig count rose by two in the last week. According to Enverus Rig Analytics, the count is up 4% in the last month and up 91% in the last year. Activity levels are still down nearly 200 rigs compared to this time in 2019. That was the seventh time the rig count increased in the past eight weeks.

Several of the major plays are at or near 2019 levels for this time of year, with the Anadarko Basin running only four fewer rigs than in October 2019 at 53. Appalachia is essentially flat while the Gulf Coast is off only 10% at 81. The Permian Basin is about 38% below October 2019, and the Denver-Julesburg Basin is still down more than 40%. The total count is up for a 14th month in a row for the first time since July 2017.

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