Bakken Rig Count Drops to 102
The Bakken-Three Forks rig count decreased by four t0 102 rigs running across our coverage area by the end of last week.
In recent Bakken news, two separate accidents across the Williston last week have added to the growing concern about Bakken oil safety and is fueling the intense debate about the way oil is produced, contained and transported in the United States.
Read more: Bakken Oil Safety
The U.S. rig count fell another 67 to 1125 rigs running as of today. A total of 257 rigs were targeting natural gas (down 11 from the previous week) and 866 were targeting oil in the U.S. (56 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)101 rigs are running in the Williston Basin across MT, ND, and SD. 104 are in ND alone.
Bakken Oil & Gas Rigs
The number of oil rigs decreased by four t0 102 rigs running by midday. WTI oil prices decreased by $4.37 from the previous week, trading at $44.81/bbl on Friday afternoon. The WTI-Brent saw a decrease of $4.75 by week’s end, landing at $54.67. Natural gas rigs decreased by four with futures trading at $2.73/mmbtu by midday.
McKenzie County continues to lead development and increased to 44 rigs running. Williams (19) and Mountrail (18) 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:
- 102 rigs are drilling horizontal wells
- 0 rigs are drilling directional wells
- 0 rigs are drilling vertical wells
Bakken Drilling by County
Bakken Oil & Gas Rigs
Emerald Oil Announces Huge 2014 Production
Abraxas Petroleum Releases Q4 Results
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