Bakken Rig Count Dips Below 100
The Bakken-Three Forks rig count decreased by five t0 97 rigs running across our coverage area by the end of last week.
In recent Bakken news, a study reveals that Williston, N.D. is experiencing population growth that is ten times the normal rate. Infrastructure maintenance and improvements are a growing concern throughout the state as growing populations and oil equipment demands have taxed the current roadways and services.
Read more: Population Grows 20% in Williston
The U.S. rig count fell another 56 to 1069 rigs running as of today. A total of 242 rigs were targeting natural gas (down 15 from the previous week) and 825 were targeting oil in the U.S. (41 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)99 rigs are running in the Williston Basin across MT, ND, and SD. 96 are in ND alone.
Bakken Oil & Gas Rigs
The number of oil rigs decreased by five t0 97 rigs running by midday. WTI oil prices increased $.91 from the previous week, trading at $45.72/bbl on Friday afternoon. The WTI-Brent saw an increase of $.47 by week’s end, landing at $55.14. There are currently no natural active gas rigs in the area and futures are trading at $2.79/mmbtu by midday.
McKenzie County continues to lead development and increased to 43 rigs running. Williams (18) and Mountrail (17) counties are the next closest producers. View the full list below under the Bakken Drilling by County section.
Activity continues to be dominated by horizontal drilling:
- 96 rigs are drilling horizontal wells
- 1 rigs are drilling directional wells
- 0 rigs are drilling vertical wells
Bakken Drilling by County
Bakken Oil & Gas Rigs
Whiting Petroleum: Is It Up for Sale?
Anti-Fracking Movement Blamed on Russia
The Economic Impact of Shale Oil
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