Bakken Shale Rig Count Decreases by Three to 188

Falling Oil Prices: How Low is Too Low for Bakken Producers

Falling Oil PriceThe Bakken-Three Forks rig count decreased by three t0 188 rigs running across our coverage area by the end of last week. The NDIC notes 190 rigs are active in North Dakota, but around 15 of those are in the process of moving in and rigging up.

In recent Bakken news, analysts and industry leaders are worried about the effects low oil prices will have on the booming shale industry, including investment and drilling interests in the Bakken play. Since extracting shale oil is currently a more expensive process than conventional production methods, Bakken producers may be more vulnerable to lower crude prices.

Read more: Falling Oil Prices: How Low is too Low for Bakken Producers?

The U.S. rig count decreased by 3 to 1,920 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (flat from the previous week) and 1,575 were targeting oil in the U.S. (three less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 189 rigs are running in the Williston Basin across MT, ND, and SD. 180 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 190 rigs are active in North Dakota. That figure is one more than Baker Hughes reports in the Bakken area, and ten more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 15 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by three to 187 rigs running by the end of the week . WTI oil prices decreased by ~$3.00 from the previous week, trading at $64.33/bbl on Monday morning. Williston Basin Sweet crude traded at $49.44/bbl on December 5th. The WTI-Brent stayed flat, settling at just under $4 by the end of last week.

One natural gas rig was recorded in the region. Natural gas futures (Henry Hub) were trading at $3.70/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 67 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 27 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 172 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 3 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 66 67 MCLEAN ND 1 1
WILLIAMS ND 42 41 RENVILLE ND 1 1
MOUNTRAIL ND 29 30 STARK ND 1 1
DUNN ND 27 26 MCHENRY ND 1 1
RICHLAND MT 5 5 DANIELS MT 0 0
DIVIDE ND 5 4 FALLON MT 1 0
BILLINGS ND 3 3 SHERIDAN MT 0 0
ROOSEVELT MT 3 2 VALLEY MT 0 0
BOTTINEAU ND 2 2 GOLDEN VALLEY ND 0 0
BURKE ND 2 2 MERCER ND 0 0
DAWSON MT 1 1 WARD ND 0 0
WIBAUX MT 1 1

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.

Bakken Shale Rig Count Increases by Three to 191

IHS: Shale Growth Still Strong, Despite Dip in Oil Prices
ND Pump Jack Photo

ND Pump Jack | Click to Enlarge

The Bakken-Three Forks rig count increased by three t0 191 rigs running across our coverage area by the end of last week. The NDIC notes 185 rigs are active in North Dakota, but around 14 of those are in the process of moving in and rigging up.

In recent Bakken news, research consultancy IHS Energy reports most shale plays are economic and ~80% of potential drilling in 2015 would remain strong at WTI crude oil prices as low as $70 per barrel.

WTI traded at ~$67 today, a nearly 40% drop from June of 2014. As a result, Bakken operators, including Emerald Oil, Inc., have already announced plans to potentially scale back their drilling programs in 2015.

North Dakota’s Department of Mineral Resources (DMR) Director Lynn Helms updated lawmakers in October on the status of oil & gas development in the state. Helms said two factors could negatively impact oil production – lower oil prices and new flaring regulations.

Read more: IHS: U.S. Shale Production Growth Will Slow, But Still Remain High

The U.S. rig count increased by decreased by 12 to 1,917 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (11 less than the previous week) and 1,572 were targeting oil in the U.S. (two less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 191 rigs are running in the Williston Basin across MT, ND, and SD. 180 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 185 rigs are active in North Dakota. That figure is six less than Baker Hughes reports in the Bakken area, and five more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 14 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs increased by three to 191 rigs running by the end of the week . WTI oil prices decreased by ~$10.00 from the previous week, trading at $67.48/bbl on Monday morning. Williston Basin Sweet crude traded at $49.69/bbl on November 28th. The WTI-Brent stayed flat, settling at just under $4 by the end of last week.

One natural gas rig was recorded in the region. Natural gas futures (Henry Hub) were trading at $4.05/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 66 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 27 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 176 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 2 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 66 66 WIBAUX MT 0 1
WILLIAMS ND 40 42 MCLEAN ND 1 1
MOUNTRAIL ND 29 29 RENVILLE ND 1 1
DUNN ND 26 27 STARK ND 1 1
RICHLAND MT 6 5 MCHENRY ND 1 1
DIVIDE ND 5 5 DANIELS MT 0 0
ROOSEVELT MT 3 3 SHERIDAN MT 0 0
BILLINGS ND 3 3 VALLEY MT 0 0
BOTTINEAU ND 2 2 GOLDEN VALLEY ND 0 0
BURKE ND 2 2 MERCER ND 0 0
DAWSON MT 1 1 WARD ND 0 0
FALLON MT 1 1

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.

Bakken Shale Rig Count Decreases by Four to 188

North Dakota Posts Records for Oil & Gas Activity in Sept. 14' as Rig Count Drops Due to Falling Oil Prices
Bakken Oil Workers

Bakken Oil Workers | Click to Enlarge

The Bakken-Three Forks rig count decreased by four t0 188 rigs running across our coverage area by the end of last week. The NDIC notes 192 rigs are active in North Dakota, but around 13 of those are in the process of moving in and rigging up.

In recent Bakken news, North Dakota hit 1,184,635 b/d oil in September 2014, setting a new record, according to the Department of Mineral Resources’ (DMR) November Director’s Cut. That’s 50,000 more b/d than August. During the same month, North Dakota also had record monthly gas production (1,403,448 mcf/d), and reported the highest number of producing wells to date (11,741).

Read more: North Dakota Breaks Records for Oil & Gas Activity

The U.S. rig count increased by one to 1,929 rigs running by the end of last week. A total of 355 rigs were targeting natural gas (five more than the previous week) and 1,574 were targeting oil in the U.S. (four less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 188 rigs are running in the Williston Basin across MT, ND, and SD. 177 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 192 rigs are active in North Dakota. That figure is four more than Baker Hughes reports in the Bakken area, and 15 more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 13 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by four to 187 rigs running by the end of the week . WTI oil prices increased by ~$.40 from the previous week, trading at $76.35/bbl on Friday afternoon. Williston Basin Sweet crude traded at $60.19/bbl on November 21st. The WTI-Brent opened up a bit, settling at just under $4 by the end of last week.

One natural gas rig was recorded in the region. Natural gas futures (Henry Hub) were trading at $4.05/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 66 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 25 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 173 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 2 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 61 66 MCLEAN ND 1 1
WILLIAMS ND 43 40 RENVILLE ND 1 1
MOUNTRAIL ND 29 29 STARK ND 2 1
DUNN ND 28 26 MCHENRY ND 0 1
RICHLAND MT 5 6 DANIELS MT 0 0
DIVIDE ND 7 5 SHERIDAN MT 0 0
ROOSEVELT MT 3 3 VALLEY MT 0 0
BILLINGS ND 3 3 WIBAUX MT 0 0
BOTTINEAU ND 3 2 GOLDEN VALLEY ND 0 0
BURKE ND 3 2 MERCER ND 0 0
DAWSON MT 1 1 WARD ND 0 0
FALLON MT 2 1

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.

Bakken Shale Rig Stays Flat at 192

Could Drones be Coming to the Bakken Oil Patch?
Drone

Drone Image, Courtesy CSIRO

The Bakken-Three Forks rig count stayed flat at 192 rigs running across our coverage area by the end of last week. The NDIC notes 184 rigs are active in North Dakota, but around 14 of those are in the process of moving in and rigging up.

In recent Bakken news, the Federal Aviation Administration and six other states, including Texas, home of the Eagle Ford Shale, have recently been selected as test sites for integrating Unmanned Aircraft Systems (UAV) or drones into the general population, according to the Bismarck Tribune.

With the green light from the FAA for testing in North Dakota, which for now is limited to agricultural applications, the next step could be in the Bakken oil patch.

Read more: Drones Coming to the Bakken Oil Patch?

The U.S. rig count increased by three to 1,928 rigs running by the end of last week. A total of 350 rigs were targeting natural gas (six less than the previous week) and 1,578 were targeting oil in the U.S. (10 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 193 rigs are running in the Williston Basin across MT, ND, and SD. 181 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 184 rigs are active in North Dakota. That figure is nine less than Baker Hughes reports in the Bakken area, but 3 more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 14 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs stayed flat at 192 rigs running by the end of the week . WTI oil prices decreased by ~$3 from the previous week, trading at $75.97/bbl on Friday afternoon. Williston Basin Sweet crude traded at $59.44/bbl on Nov. 14th. The WTI-Brent closed up a bit, settling at just over $3.50 by the end of last week.

One natural gas rig was recorded in the region. Natural gas futures (Henry Hub) were trading at $4.06/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 61 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 28 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 248 rigs are drilling horizontal wells
  • 9 rigs are drilling directional wells
  • 8 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 61 61 DAWSON MT 1 1
WILLIAMS ND 43 43 MCLEAN ND 1 1
MOUNTRAIL ND 28 29 RENVILLE ND 1 1
DUNN ND 29 28 DANIELS MT 0 0
DIVIDE ND 7 7 SHERIDAN MT 0 0
RICHLAND MT 5 5 VALLEY MT 0 0
ROOSEVELT MT 3 3 WIBAUX MT 0 0
BILLINGS ND 3 3 GOLDEN VALLEY ND 0 0
BOTTINEAU ND 3 3 MERCER ND 0 0
BURKE ND 3 3 WARD ND 0 0
FALLON MT 2 2 MCHENRY ND 0 0
STARK ND 2 2

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.

Bakken Shale Rig Count Increases by One to 192

Magnum Hunter Resources Sells Large Chunk of Bakken Acreage - $84.7-Million
Magnum Hunter Resources' Bakken Acreage Map

Magnum Hunter Resources’ Bakken Acreage Map|Click to Enlarge

The Bakken-Three Forks rig count increased by one to 192 rigs running across our coverage area by the end of last week. The NDIC notes 193 rigs are active in North Dakota, but around 20 of those are in the process of moving in and rigging up.

In recent Bakken news, Houston, TX-based Magnum Hunter Resources sold a large chunk of its Bakken acreage for $84.7-million to an undisclosed buyer.

The deal, which closed in mid October of this year, included non-operated working interests in ~105,661 gross (12,500 net) leasehold acres in Divide County, ND. The divested properties currently account for net average production of ~720 boe/d.

Read moreMagnum Hunter Sells Bakken Acreage – $84.7-Million

The U.S. rig count decreased by four to 1,925 rigs running by the end of last week. A total of 356 rigs were targeting natural gas (ten more than the previous week) and 1,568 were targeting oil in the U.S. (14 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 193 rigs are running in the Williston Basin across MT, ND, and SD. 181 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 193 rigs are active in North Dakota. That is the same number Baker Hughes reports in the Bakken area, but 12 more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 20 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs stayed flat at 191 rigs running by the end of the week . WTI oil prices decreased by ~$1.50 from the previous week, trading at $78.95/bbl on Friday afternoon. Williston Basin Sweet crude traded at $59.44/bbl on Nov. 7th. The WTI-Brent closed up a bit, settling at just over $4.50 by the end of last week.

For the first time in several months, one natural gas rig was recorded in the region. Natural gas futures (Henry Hub) were trading at $4.46/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 61 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 28 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 177 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 2 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 62 61 DAWSON MT 1 1
WILLIAMS ND 40 43 MCLEAN ND 1 1
DUNN ND 29 29 RENVILLE ND 2 1
MOUNTRAIL ND 28 28 DANIELS MT 0 0
DIVIDE ND 8 7 SHERIDAN MT 1 0
RICHLAND MT 4 5 VALLEY MT 0 0
ROOSEVELT MT 3 3 WIBAUX MT 0 0
BILLINGS ND 3 3 GOLDEN VALLEY ND 0 0
BOTTINEAU ND 2 3 MERCER ND 0 0
BURKE ND 3 3 WARD ND 0 0
FALLON MT 2 2 MCHENRY ND 0 0
STARK ND 2 2

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.

Bakken Shale Rig Count Stays Flat at 191

Two New Bakken Crude Oil Pipelines Slated to be Online by 2016
Pipeline Construction

Pipeline Construction | Click to Enlarge

The Bakken-Three Forks rig count stayed flat at 191 rigs running across our coverage area by the end of last week. The NDIC notes 193 rigs are active in North Dakota, but around 20 of those are in the process of moving in and rigging up.

In recent Bakken news, Dallas, TX-based Energy Transfer Partners announced a joint venture with Houston-based Phillips 66 at the end of October, 2014, to build two pipelines that will move crude oil out of North Dakota’s Bakken Shale field.

Energy Transfer Partners will have a 75% interest in the pipelines. Phillips 66 will have a 25% interest, and will pay a proportionate cost of the construction. Both the “Dakota Access Pipeline” and “Energy Transfer Crude Oil Pipeline” are scheduled to be completed by the end of 2016.

Read more: Two New Bakken Crude Oil Pipelines Online by 2016

The U.S. rig count increased by two to 1,929 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (fourteen more than the previous week) and 1,582 were targeting oil in the U.S. (13 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 192 rigs are running in the Williston Basin across MT, ND, and SD. 180 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 193 rigs are active in North Dakota. That is one more than Baker Hughes reports in the Bakken area, and 13 more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 20 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs stayed flat at 191 rigs running by the end of the week . WTI oil prices decreased by ~$.60 from the previous week, trading at $80.58/bbl on Friday afternoon. Williston Basin Sweet crude traded at $62.69bbl on Oct. 31st. The WTI-Brent closed up a bit, settling at just over $5 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $3.88/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 62 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 25 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 174 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 4 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 62 62 STARK ND 2 2
WILLIAMS ND 40 40 DAWSON MT 1 1
DUNN ND 29 29 SHERIDAN MT 1 1
MOUNTRAIL ND 28 28 MCLEAN ND 1 1
DIVIDE ND 8 8 DANIELS MT 0 0
RICHLAND MT 4 4 VALLEY MT 0 0
ROOSEVELT MT 3 3 WIBAUX MT 0 0
BILLINGS ND 3 3 GOLDEN VALLEY ND 0 0
BURKE ND 3 3 MERCER ND 0 0
FALLON MT 2 2 WARD ND 0 0
BOTTINEAU ND 3 2 MCHENRY ND 0 0
RENVILLE ND 1 2

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.

Bakken Shale Rig Count Decreases By One to 191

Tesoro Buys QEP Bakken Pipeline Assets - $2.5 Billion
QEP Midstream Operations Map

QEP Midstream Operations Map | Click to Enlarge

The Bakken-Three Forks rig count decreased by one to 191 rigs running across our coverage area by the end of last week. The NDIC notes 194 rigs are active in North Dakota, but around 13 of those are in the process of moving in and rigging up.

In recent Bakken news, San Antonio, TX-based Tesoro Logistics LP agreed to buy Denver, CO-based QEP Resources Inc.’s natural gas pipeline and processing business, QEP Field Services, for 2.5-billion in late October of 2014. The deal also includes a 58% ownership in QEP Midstream Partners.

The acquired assets operate over 2,000 miles of natural gas and crude oil gathering and transmission pipeline, with locations in North Dakota’s Bakken Shale and the Rocky Mountain region. The assets have have a combined 2.9 billion cf/d of natural gas and 54,000 b/d of crude oil throughput capacity.

Read more: Tesoro Buys QEP’s Bakken Pipeline Assets – $2.5 Billion

The U.S. rig count increased by 9 to 1,927 rigs running by the end of last week. A total of 332 rigs were targeting natural gas (four more than the previous week) and 1,595 were targeting oil in the U.S. (5 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 192 rigs are running in the Williston Basin across MT, ND, and SD. 180 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 194 rigs are active in North Dakota. That is two more than Baker Hughes reports in the Bakken area, and 14 more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 13 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by one to 191 rigs running by the end of the week . WTI oil prices decreased by ~$2.00 from the previous week, trading at $81.08/bbl on Friday afternoon. Williston Basin Sweet crude traded at $63.94/bbl on Oct. 16th. The WTI-Brent closed up a bit, settling at just underr $5 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $3.61/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 62 rigs running. Mountrail, Williams and Dunn counties are the only other counties with more than 25 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 174 rigs are drilling horizontal wells
  • 13 rigs are drilling directional wells
  • 4 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 64 62 DAWSON MT 0 1
WILLIAMS ND 39 40 SHERIDAN MT 1 1
DUNN ND 25 29 MCLEAN ND 1 1
MOUNTRAIL ND 30 28 RENVILLE ND 2 1
DIVIDE ND 10 8 DANIELS MT 0 0
RICHLAND MT 6 4 VALLEY MT 0 0
ROOSEVELT MT 2 3 WIBAUX MT 0 0
BILLINGS ND 2 3 GOLDEN VALLEY ND 0 0
BOTTINEAU ND 3 3 MERCER ND 0 0
BURKE ND 3 3 WARD ND 0 0
FALLON MT 2 2 MCHENRY ND 0 0
STARK ND 2 2

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.

Bakken Shale Rig Count Decreases by One to 192

EIA: Bakken Shale Expected to Produce 1.19-Million b/d in Nov. 2014
EIA Bakken Production Data

EIA Bakken Production Data | Click to Enlarge

The Bakken-Three Forks rig count decreased by one to 192 rigs running across our coverage area by the end of last week. The NDIC notes 190 rigs are active in North Dakota, but around 13 of those are in the process of moving in and rigging up.

In recent Bakken news, The Bakken Shale is expected to produce 1.193-million b/d of oil in November, up 22% from the same time last year, according to theEnergy Information Administration’s (EIA) Drilling Productivity Report. October’s total production from the play is expected to be 1.164-million b/d.

Read more: Bakken Shale Expected to Hit 1.19-Million b/d in Nov. 2014

The U.S. rig count decreased by 12 to 1,918 rigs running by the end of last week. A total of 328 rigs were targeting natural gas (eight more than the previous week) and 1,590 were targeting oil in the U.S. (19 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 193 rigs are running in the Williston Basin across MT, ND, and SD. 181 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 190 rigs are active in North Dakota. That is three less than Baker Hughes reports in the Bakken area, and nine less than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 13 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by one to 192 rigs running by the end of the week . WTI oil prices decreased by less than $1.00 from the previous week, trading at $83.15/bbl on Friday afternoon. Williston Basin Sweet crude traded at $64.44/bbl on Oct. 16th. The WTI-Brent closed up a bit, settling at just over $3 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $3.77/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 64 rigs running. Mountrail, and Williams counties are the only other counties with more than 30 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 173 rigs are drilling horizontal wells
  • 16 rigs are drilling directional wells
  • 3 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 62 64 STARK ND 3 2
WILLIAMS ND 39 39 SHERIDAN MT 1 1
MOUNTRAIL ND 33 30 MCLEAN ND 1 1
DUNN ND 25 25 DANIELS MT 0 0
DIVIDE ND 9 10 DAWSON MT 0 0
RICHLAND MT 5 6 VALLEY MT 0 0
BOTTINEAU ND 3 3 WIBAUX MT 0 0
BURKE ND 3 3 GOLDEN VALLEY ND 0 0
FALLON MT 2 2 MERCER ND 0 0
ROOSEVELT MT 3 2 WARD ND 0 0
BILLINGS ND 2 2 MCHENRY ND 0 0
RENVILLE ND 2 2

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.

Bakken Shale Rig Count Decreases by Four to 193

Occidental Petroleum's Bakken Assets on the Table
Occidental Bakken Acreage

Occidental Bakken Acreage|Click to Enlarge

The Bakken-Three Forks rig count decreased by four to 193 rigs running across our coverage area by the end of last week. The NDIC notes 190 rigs are active in North Dakota, but around 18 of those are in the process of moving in and rigging up.

In recent Bakken news, Occidental Petroleum (NYSE: OXY) appears to be on the verge of divesting its acreage in the Williston Basin, according to a Bloombergreport, which cited “people with knowledge of the matter.”

Currently, OXY has ~500,000 gross acres (~335,000 net) in the Williston Basin, and is working with investment bank Tudor Pickering Holt & Co. to sell the assets.

Read more: Occidental’s Bakken Assets on the Table

The U.S. rig count increased by eight to 1,930 rigs running by the end of last week. A total of 320 rigs were targeting natural gas (ten less than the previous week) and 1,609 were targeting oil in the U.S. (18 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 194 rigs are running in the Williston Basin across MT, ND, and SD. 182 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 190 rigs are active in North Dakota. That is four less than Baker Hughes reports in the Bakken area, and eight more than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 18 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased  by four to 193 rigs running by the end of the week . WTI oil prices decreased by nearly $5 from the previous week, trading at $84.72/bbl on Friday afternoon. Williston Basin Sweet crude traded at $67.44/bbl on Oct. 2nd. The WTI-Brent opened up a bit, settling at just over $4 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $3.86/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 62 rigs running. Mountrail, and Williams counties are the only other counties with more than 30 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 172 rigs are drilling horizontal wells
  • 16 rigs are drilling directional wells
  • 5 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 66 62 RENVILLE ND 2 2
WILLIAMS ND 36 39 SHERIDAN MT 0 1
MOUNTRAIL ND 34 33 MCLEAN ND 1 1
DUNN ND 26 25 DANIELS MT 0 0
DIVIDE ND 9 9 DAWSON MT 0 0
RICHLAND MT 5 5 VALLEY MT 0 0
ROOSEVELT MT 2 3 WIBAUX MT 0 0
BOTTINEAU ND 4 3 GOLDEN VALLEY ND 0 0
BURKE ND 4 3 MERCER ND 0 0
STARK ND 2 3 WARD ND 2 0
FALLON MT 1 2 MCHENRY ND 0 0
BILLINGS ND 3 2

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.

Bakken Shale Rig Count Stays Flat at 197

Enbridge's Sandpiper Pipeline Delayed Until 2017
Pipeline Construction

Pipeline Construction | Click to Enlarge

The Bakken-Three Forks rig count stayed flat at 197 rigs running across our coverage area by the end of last week. The NDIC notes 188 rigs are active in North Dakota, but around six of those are in the process of moving in and rigging up.

In recent Bakken news, permitting problems in Minnesota are delaying Calgary-based Enbridge Energy Partners LP from building a 612-mile pipeline from North Dakota’s Bakken Shale, according to the Wall Street Journal. The company disclosed the delay of the $2.6-billion Sandpiper pipeline in a filing with the U.S. Securities and Exchange Commission earlier this week.

Read more: Enbridge’s Sandpiper Pipeline Delayed

The U.S. rig count decreased by nine to 1,922 rigs running by the end of last week. A total of 330 rigs were targeting natural gas (eight less than the previous week) and 1,591 were targeting oil in the U.S. (1 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 198 rigs are running in the Williston Basin across MT, ND, and SD. 189 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it’s close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 188 rigs are active in North Dakota. That is ten less than Baker Hughes reports in the Bakken area, and one less than the company reports in North Dakota. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around six rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs stayed flat at 197 rigs running by the end of the week . WTI oil prices decreased by nearly $3 from the previous week, trading at $90.15/bbl on Friday afternoon. Williston Basin Sweet crude traded at $72.69/bbl on Oct. 2nd. The WTI-Brent closed up a bit, settling at just over $2 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $4.02/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 66 rigs running. Mountrail, and Williams counties are the only other counties with more than 30 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

  • 178 rigs are drilling horizontal wells
  • 18 rigs are drilling directional wells
  • 1 rigs are drilling vertical wells

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Bakken Drilling by County

County State Previous Week Current Week County State Previous Week Current Week
MCKENZIE ND 65 66 WARD ND 2 2
WILLIAMS ND 36 36 FALLON MT 1 1
MOUNTRAIL ND 34 34 MCLEAN ND 1 1
DUNN ND 26 26 DANIELS MT 0 0
DIVIDE ND 9 9 DAWSON MT 0 0
RICHLAND MT 5 5 SHERIDAN MT 0 0
BOTTINEAU ND 4 4 VALLEY MT 0 0
BURKE ND 5 4 WIBAUX MT 0 0
BILLINGS ND 3 3 GOLDEN VALLEY ND 0 0
ROOSEVELT MT 2 2 MERCER ND 0 0
RENVILLE ND 2 2 MCHENRY ND 0 0
STARK ND 2 2

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.

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