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Thursday, July 19, 2018

Utica Rig Count Hits Lowest Point in Months on Latest ODNR Report


New permits issued last week: 1  (Previous week: 5-4
Total horizontal permits issued: 2843  (Previous week: 2843+-0
Total horizontal wells drilled: 2372 (Previous week: 2371+1
Total horizontal wells producing: 1929 (Previous week: 1913+16
Utica rig count: 16 (Previous week: 18)  -2

The Utica rig count did hit a low point of 9 in June 2016, but since rebounding to a high of 28 in August of last year it has consistently hovered around 20.  Now it's trending back down again.

The highest rig count we've seen during the shale boom was 59 in December 2014.

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