Natural Gas: Oil Rigs Are Back at a Three-Year High
The natural gas rig count was at 187 last week—the same as the previous week. The natural gas rig count has fallen ~88.4% from its record level of 1,606 in 2008. However, US natural gas marketed production rose ~45.8% between January 2008 and April 2018 despite the natural gas–targeted rig count falling. As a result, natural gas active futures have fallen 64.5% since January 2008.