The Bakken-Three Forks rig count jumped by 8 rigs to 184 running over the past week. The NDIC notes that 191 rigs are currently active in North Dakota, but about 17 of those are in the process of moving in and rigging up.
ConocoPhillips` announced its 2014 budget with increased spending in the lower 48, particularly the Bakken. Conoco has a five-year plan to spend $5 billion in the Bakken and grow production to 50,000 boe/d by 2017.
Read more in the article: ConocoPhillips Increases Bakken Spending in Its 2014 Budget [Read more...]