Bakken Rig Count at 31

The Bakken-Three Forks rig count fell by one this week with Baker Hughes reporting 31 rigs running across our coverage area by midday Friday.

A total of 637 oil and gas rigs were running across the United States this week, a gain of 14 over last week. 126 rigs targeted natural gas (one more than the previous week) and 510 were targeting oil in the U.S. (12 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 31 of the rigs active in the U.S. were running in North Dakota.

Bakken Oil & Gas Rigs

Bakken oil rigs were at 31 this week with Bloomberg reporting WTI oil prices gained slightly to $51.91 on Friday afternoon. Prices for WTI-Brent also dipped to a per barrel price of $55.21. The Bakken has zero natural active gas rig in the area this week with futures trading at $3.42/mmbtu by midday.

Activity continues to be dominated by horizontal drilling:

  • 31 rigs are drilling horizontal wells
  • 0 rigs are drilling directional wells
  • 0 rigs are drilling vertical wells

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.

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