Bakken Rigs Reduce to 66

akken Rigs
akken Rigs

The Bakken-Three Forks rig count dropped to 66 rigs running across our coverage area by end of the week on Friday.

In recent Bakken news, production in the Bakken Shale play decreased over the summer according to the Energy Information Administration’ s latest Drilling Productivity Report.

Read more:EIA: Bakken Production Declines

The U.S. rig count fell by four this week, ending with 838 rigs running by midday Friday.  A total of 194 rigs were targeting natural gas (down four from previous week) and 640 were targeting oil in the U.S. (one less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)70 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs were at 66 this week with Bloomberg reporting WTI oil prices trading at $45.7/bbl on Friday afternoon. WTI-Brent decreased $.06 landing to $48.60. The Bakken has zero natural active gas rig in the area this week with futures increasing slightly to $2.56/mmbtu by midday.

McKenzie County continues to lead development at 25 rigs 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:

  • 62 rigs are drilling horizontal wells
  • 1 rigs are drilling directional wells
  • 3 rigs are drilling vertical wells

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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