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Rig Count Fall Might Not Make Natural Gas Bulls Happy

Robert Scott
Rig Count Fall Might Not Make Natural Gas Bulls Happy

The natural gas rig count was at 187 last week, two less than in 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 rig count falling. As a result, natural gas active futures have fallen 65.2% since January 2008.