U.S. Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes

U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday.

The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.

Baker Hughes said that puts the total rig count down 134, or 18%, below this time last year.

The number of oil rigs fell by one to 509 this week, while gas rigs decreased by four to 112, their lowest level since mid January 2022, according to Baker Hughes.

U.S. Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes