US Natural Gas Rigs Increased ~3% in the Last Six Months

Baker Hughes, a GE Company (BHGE), released its US natural gas rig count report on June 29. Baker Hughes reported that US natural gas rigs fell by one to 187 on June 22–29—the lowest level since March 2. However, the rigs increased by three or ~1.6% from a year ago. Similarly, the rigs increased 3% in the last six months. WTI oil prices increased 23% in the first half of the year, while natural gas prices decreased 1% during the same period.