Friday's U.S. weekly onshore Active Rig Count total (8.22.25) is 'level' at 538 units.

Gas basin development remains above 121 rigs for the 5th week. HH natural gas pricing decreased +$.12/MBtu attributed to Freeport LNG intake reduction of about 1 BCFGPD since Sunday (8.17.25). Freeport is now running at seasonal average for the new week.  Cooler U.S. weather also played a small role in weaker natural gas demand/prices.
 
Annual "heating season" (Nov. 1 thru February 28) is still 10 weeks away with its natural gas demand surge. Expect 'flat' drilling activity until Q4. All eyes will be on U.S. LNG exports and consumption.