The U.S. rig count fell by nine in the last week to 696 as of Jan. 12, according to Enverus Rig Analytics. The number of rigs running is up by 1% in the last month and 72% YOY.
The largest week-over-week declines by region were in the Permian (minus nine to 266), Gulf Coast (minus four to 82) and Anadarko Basin (minus three to 64). The Appalachian Basin reached its highest activity level since October 2019, gaining four rigs during the past week for a total of 53.
There are currently 27 companies drilling wells in Appalachia, compared to 16 operators at this time in 2021. Fifteen of those companies are running multiple rigs, with Ascent Resources and Tug Hill Operating being the most active at four rigs each.
Chesapeake Energy, Southwestern Energy, Encino Energy, HG Energy, Range Resources, Antero Resources and National Fuel Gas subsidiary Seneca Resources all have three rigs active. Notably, Repsol is running two rigs, having reactivated its drilling program in August after more than 21 months without drilling on its Marcellus acreage.