Bakken Oil Rigs Dip Below 70

Bakken Rig Count Drops
Bakken Rig Count Drops

The Bakken-Three Forks rig count decreased this week to 70 rigs running across our coverage area.

In recent Bakken news, Montana’s  Board of Oil and Gas Conservation is considering a proposal that will require buffers zones around homes to protect them from oil and gas drilling.

Read more: Montana Considers Drilling Buffer

The U.S. rig count increased slightly, ending with 863 rigs running by midday Friday.  A total of 217 rigs were targeting natural gas (two less than the previous week) and 645 were targeting oil in the U.S. (five more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)70 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs decreased to 69 rigs this week with Bloomberg reporting WTI oil prices trading at $52.74/bbl on Friday afternoon, a $3.98 decrease from the previous week. WTI-Brent decreased $3.12 landing to $58.73. The Bakken has zero natural active gas rig in the area this week with futures increasing to $2.77/mmbtu by midday.

McKenzie County continues to lead development and is running 29 running this week, while Williams dropped to 15 and Mountrail increased 12. View the full list below under the Bakken Drilling by County section.

Activity continues to be dominated by horizontal drilling:

  • 69 rigs are drilling horizontal wells
  • 0 rigs are drilling directional wells
  • 1 rigs are drilling vertical wells

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Bakken Drilling by County

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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.