Bakken Rig Count Falls Three
Due to the holiday, we are releasing the weekly rig count post early.
The Bakken-Three Forks rig count fell by three this week landing at 54 rigs running across our coverage area by midday Wednesday.
In recent Bakken news, Tesoro Corporation announced that it will grow its midstream operations to provide more efficient, flexible and cost-effective integrated logistics services to customers in the Bakken region. They will acquire Great Northern Midstream LLC
Read more: Tesoro Buys Bakken Assets
A total of 700 oil and gas rigs were running across the United States this week.162 were targeting natural gas (nine less than the previous week) and 538 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.) 54are in ND alone.
Bakken Oil & Gas Rigs
The Bakken oil rigs were at 54 this week with Bloomberg reporting WTI oil prices trading at $37.50 on Friday afternoon. WTI-Brent increased $.43landing at $37.31 The Bakken has zero natural active gas rig in the area this week with futures increasing to $1.95/mmbtu by midday.
McKenzie County continues to lead development with 25 rigs running this week, far outpacing other counties. View the full list below under the Bakken Drilling by County section.
Activity continues to be dominated by horizontal drilling:
- 52 rigs are drilling horizontal wells
- 2 rigs are drilling directional wells
- 0 rigs are drilling vertical wells
Bakken Drilling by County
Bakken Oil & Gas News
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