The Bakken-Three Forks rig count decreased by 12 t0 109 rigs running across our coverage area by the end of last week.
In recent Bakken news, Governor Dalrymple of North Dakota signed legislation that grants massive emergency funding to counties and cities statewide in order to bolster the lagging infrastructure. The bulk of the money is targeted to fix roadways and bridges that have not been able to keep up with the increased traffic of heavy oil field equipment that the shale boom has brought to the Bakken area.
Read more: Governor Dalrymple Commits to Infrastructure
The U.S. rig count fell another 43 to 1267 rigs running by the end of last week. A total of 280 rigs were targeting natural gas (down nine from the previous week) and 986 were targeting oil in the U.S. (33 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 111 rigs are running in the Williston Basin across MT, ND, and SD. 108 are in ND alone.
Bakken Oil & Gas Rigs
The number of oil rigs decreased by 12 t0 109 rigs running by the end of the week . WTI oil prices decreased by $1.66 from the previous week, trading at $48.84/bbl on Friday afternoon. The WTI-Brent saw an increase decrease of $96 by week’s end, landing at $61.35. Natural gas rigs remained flat with futures trading at $2.71/mmbtu by the end of last week.
McKenzie County continues to lead development with 44 rigs running. Williams (21), Mountrail (21) counties are the only other counties with more than 2o rigs running each. View the full list below under the Bakken Drilling by County section.
Activity is dominated by horizontal drilling:
- 109 rigs are drilling horizontal wells
- 0 rigs are drilling directional wells
- 0 rigs are drilling vertical wells
Bakken Drilling by County
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Bakken Oil & Gas Rigs
What is the Rig Count?
The Bakken Shale Rig Count is an index of the total number of oil & gas drilling rigs running across Montana and North Dakota. The rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Bakken formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count.
Read more at bakerhughes.com