Overall U.S. Rig Count Up Slightly

Enverus reported that U.S. drillers this week added oil and natural gas rigs for the second time in three weeks as a recent increase in energy prices from coronavirus-linked lows prompted some to return to the wellpad.

The Anadarko Basin lost six rigs, the Marcellus/Utica lost four and the Denver-Julesburg Basin lost one. Outside of major onshore basins, however, nine rigs were added in the last week.

The U.S. rig count is up 3% in the last month but down 68% year-over-year. The count has been below 300 since June 3. Third-quarter levels to date have averaged 280 and stayed within a 29-rig range, indicating a stable level of activity for the quarter—but not a recovery.

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