The U.S. rig count fell by two rigs in the last week to a total of 536 while the Anadarko Basin is still seeing increased activity as of July 14, according to Enverus Rig Analytics.
The count is up 6% month over month and up 93% YOY. The most notable change in the last week was in the Permian, where active rigs dropped by six to 216. In the last month, the Gulf Coast has seen a 10-rig increase to 64, and the Anadarko Basin has added nine to reach 40.
Natural gas has been making a run, with Henry Hub up nearly 40% since the end of March. The front-month contract settled at $3.61/MMBtu on July 14, which is more than double the price a year ago. The recovery over the last year has fueled increased drilling in the Ark-La-Tex region, primarily driven by the Haynesville.
As of July 14, the rig count in the region is up 70% YOY and has remained flat in the last month at 56. The most active operators are Aethon Energy (10 rigs), Comstock Resources (seven) and Indigo Natural Resources (six), each running three more rigs than a year ago.
Pipeline-constrained Appalachia has seen a smaller YOY increase of 21% to 40 rigs currently. The most active operator in that basin is Southwestern Energy (four rigs), followed by Ascent Resources Utica, Chesapeake Energy, EQT Corp., Seneca Resources and Tug Hill Operating, each running three rigs.
Source: Enverus Rig Analytics
