The Bakken-Three Forks rig count decreased by three t0 106 rigs running across our coverage area by the end of last week.
In recent Bakken news, Whiting Petroleum announced a record 2014 and revealed a 2015 spending plan that includes reducing Bakken rig count.
Read more: Whiting to Reduce Bakken Rig Count
The U.S. rig count fell another 72 to 1192 rigs running as of today. A total of 268 rigs were targeting natural gas (down 12 from the previous week) and 922 were targeting oil in the U.S. (64 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)108 rigs are running in the Williston Basin across MT, ND, and SD. 105 are in ND alone.
Bakken Oil & Gas Rigs
The number of oil rigs decreased by 3 t0 106 rigs running by midday. WTI oil prices decreased by $1.32 from the previous week, trading at $49.18/bbl on Friday afternoon. The WTI-Brent saw a decrease of $0.97 by week’s end, landing at $59.42. Natural gas rigs decreased by four with futures trading at $2.82/mmbtu by midday.
McKenzie County continues to lead development and increased to 46 rigs running. Williams (19) and Mountrail (19) 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:
- 106 rigs are drilling horizontal wells
- 0 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