The Bakken-Three Forks rig count remained steady at 57 rigs running across our coverage area by end of the week on Friday.
In recent Bakken news, ConocoPhillips announced its 2016 budget last week, revealing they will continue to operate four drilling rigs in the Bakken next year.
Read more:ConocoPhillips in the Bakken
A total of 709 oil and gas rigs were running across the United States this week.168 were targeting natural gas (17 less than the previous week) and 541 were targeting oil in the U.S. (17 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 57are in ND alone.
Bakken Oil & Gas Rigs
The Bakken oil rigs were at 57 this week with Bloomberg reporting WTI oil prices trading at $34.55 on Friday afternoon. WTI-Brent decreased $1.05landing at $36.88 The Bakken has zero natural active gas rig in the area this week with futures decreasing to $1.77/mmbtu by midday.
McKenzie County continues to lead development with 26 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:
- 55 rigs are drilling horizontal wells
- 2 rigs are drilling directional wells
- 0 rigs are drilling vertical wells
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.
Read more at bakerhughes.com