The Bakken-Three Forks rig count decreased by one rig to 176 running over the past week. The NDIC notes more than 190 rigs are active in North Dakota, but more than 20 of those are in the process of moving in and rigging up.
In the company’s third quarter earnings release, Oasis Petroleum detailed acquisitions that bring its acreage holdings up to almost 500,000 net acres. The deals were just a few of many highlights from the company’s earnings release.
Oasis added two rigs, believes it has a drilling inventory of more than 3,000 wells, and has driven well costs below $7.5 million. Read more in the article: Oasis Petroleum Nearing Half a Million Acres in the Bakken
The U.S. rig count increased 12 rigs from 1,763 to 1,775 running over the past week. A total of 375 rigs are targeting natural gas (8 more than last week) and 1,397 (6 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 179 rigs are running in the Williston Basin across MT, ND, and SD. That’s down one from last week. [Read more...]