Bakken Shale Rig Count Decreases by Four to 172

June 16, 2014 Kirk Eggleston

The Bakken-Three Forks rig count decreased by four to 172 rigs running across our coverage area by the end of last week. The NDIC notes 185 rigs are active in North Dakota, but around 20 of those are in the process of moving in and rigging up.

In recent Bakken news, Summit Midstream Partners announced in June of 2014 that it will spend $300 million on four new development projects involving oil, water and natural gas gathering in the Bakken Shale play. The new projects will further expand the companies footprint in Williams and Divide counties.

The U.S. rig count decreased by six to 1,854 rigs running by the end of last week. A total of 310 rigs were targeting natural gas (ten less than the previous week) and 1,542 were targeting oil in the U.S. (four more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 174 rigs are running in the Williston Basin across MT, ND, and SD. 169 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it's close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 185 rigs are active in North Dakota. That is 11 more than Baker Hughes reports in the Bakken area, and 16 more than the company reports in North Dakota. The difference is likely accounted for in the number of rigs actually working, rigs that might not be serviced by Baker Hughes AND rigs in areas outside of the Bakken fairway. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 20 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by four to 172 rigs running by the end of the week . WTI oil prices increased by ~$4 from the previous week, trading at $106.91/bbl on Friday afternoon. Williston Basin Sweet crude traded at $93.44/bbl on June 13th. The WTI-Brent opened up slightly, settling at ~$7 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $4.74/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 62 rigs running. Dunn, Mountrail, and Williams counties are the only other counties with more than 23 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

156 rigs are drilling horizontal wells
16 rigs are drilling directional wells
0 rigs are drilling vertical wells

Bakken Oil & Gas News

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Bakken Drilling by County

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 and/or Smith Service Co's (Schlumberger) Smith Rig Count.

Bakken Shale Rig Count Decreases by One to 176

June 9, 2014 Kirk Eggleston

The Bakken-Three Forks rig count decreased by one to 176 rigs running across our coverage area by the end of last week. The NDIC notes 194 rigs are active in North Dakota, but around 12 of those are in the process of moving in and rigging up.

In recent Bakken news, the North Dakota Industrial Commission (NDIC) began implementing its first in a series of policy changes aimed at reducing flaring in the Bakken on June 1st. The NDIC’s new “gas capture plan” (GCP) rule will require E&P companies to submit a document with their application for a permit to the commission specifying how they plan to capture gas produced from their drilling operations.

The U.S. rig count increased by nine to 1,860 rigs running by the end of last week. A total of 320 rigs were targeting natural gas (six less than the previous week) and 1,536 were targeting oil in the U.S. (flat from the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 178 rigs are running in the Williston Basin across MT, ND, and SD. 169 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it's close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 194 rigs are active in North Dakota. That is 16 more than Baker Hughes reports in the Bakken area, and 25 more than the company reports in North Dakota. The difference is likely accounted for in the number of rigs actually working, rigs that might not be serviced by Baker Hughes AND rigs in areas outside of the Bakken fairway. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 12 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by one to 176 rigs running by the end of the week . WTI oil prices stayed relatively flat from the previous week, trading at 102.85/bbl on Friday afternoon. Williston Basin Sweet crude traded at $89.44/bbl on June 6th. The WTI-Brent closed up slightly, settling at ~$6 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $4.72/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 60 rigs running. Dunn, Mountrail, and Williams counties are the only other counties with more than 24 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

158 rigs are drilling horizontal wells
17 rigs are drilling directional wells
1 rig is drilling a vertical well

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Bakken Drilling by County

What is the Rig Count?

Bakken Shale Rig Count Decreases by Five to 177

June 2, 2014 Kirk Eggleston

The Bakken-Three Forks rig count decreased by five to 177 rigs running across our coverage area by the end of last week. The NDIC notes 188 rigs are active in North Dakota, but around 16 of those are in the process of moving in and rigging up.

In recent Bakken news, at the Thirtieth Annual Sanford C. Bernstein Conference on May 29, 2014, EOG Resources CEO Bill Thomas indicated the company doesn't see another shale play of the same magnitude as the Bakken or Eagle Ford on the horizon. According to Thomas, the Bakken and the Eagle Ford currently produce 75% of all horizontal oil production in the U.S., but he notes the two plays are beginning to mature, and the rate of growth in both plays is beginning to slow.

The U.S. rig count increased by nine to 1,866 rigs running by the end of last week. A total of 326 rigs were targeting natural gas (one more than the previous week) and 1,536 were targeting oil in the U.S. (eight more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 178 rigs are running in the Williston Basin across MT, ND, and SD. 169 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it's close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 188 rigs are active in North Dakota. That is 10 more than Baker Hughes reports in the Bakken area, and 19 more than the company reports in North Dakota. The difference is likely accounted for in the number of rigs actually working, rigs that might not be serviced by Baker Hughes AND rigs in areas outside of the Bakken fairway. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 16 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs decreased by five to 177 rigs running by the end of the week . WTI oil prices decreased by $2 to $102.79/bbl on Friday afternoon. Williston Basin Sweet crude traded at $90.19/bbl on May 29th. The WTI-Brent closed up slightly, settling at ~$8 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading at $4.56/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 64 rigs running. Dunn, Mountrail, and Williams counties are the only other counties with more than 20 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

160 rigs are drilling horizontal wells
15 rigs are drilling directional wells
2 rigs are drilling a vertical well

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Bakken Drilling by County

What is the Rig Count?

Bakken Shale Rig Count Stays Flat at 182

May 26, 2014 Kirk Eggleston

The Bakken-Three Forks rig count stayed flat at 182 rigs running by the end of last week. The NDIC notes 189 rigs are active in North Dakota, but around 16 of those are in the process of moving in and rigging up.

In recent news, Hess’ first quarter 2014 Bakken production increased slightly from the fourth quarter, but company official say total Bakken production was curtailed due to the shutdown of the Tioga gas plant. Company officials now say Hess’ Bakken production levels are greater than 80,000 boe/d after work was completed on the Tioga gas plant expansion. The company currently has a 17 rig drilling program in the Bakken with 2014 net production expected to average 80,000 to 90,000 boe/d.

The U.S. rig count decreased by four to 1,857 rigs running by the end of last week. A total of 325 rigs were targeting natural gas (one less than the previous week) and 1,528 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.). 183 rigs are running in the Williston Basin across MT, ND, and SD. 174 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it's close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 189 rigs are active in North Dakota. That is 6 more than Baker Hughes reports in the Bakken area, and 15 more than the company reports in North Dakota. The difference is likely accounted for in the number of rigs actually working, rigs that might not be serviced by Baker Hughes AND rigs in areas outside of the Bakken fairway. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 16 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs stayed flat at 182 rigs running by the end of the week . WTI oil prices increased by $2 to $104.37/bbl on Friday afternoon. Williston Basin Sweet crude traded at $90.94/bbl on May 23rd. The WTI-Brent closed up slightly, settling at ~$6 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading$4.40/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 69 rigs running. Dunn, Mountrail, and Williams counties are the only other counties with more than 20 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

166 rigs are drilling horizontal wells
14 rigs are drilling directional wells
2 rigs are drilling a vertical well

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Bakken Drilling by County

What is the Rig Count?

Bakken Shale Rig Count Increases by One to 182

May 19, 2014 Kirk Eggleston

The Bakken-Three Forks rig count increased by one to 182 rigs running by the end of last week. The NDIC notes 190 rigs are active in North Dakota, but around 14 of those are in the process of moving in and rigging up.

In recent news, The American Fuel & Petrochemical Manufacturers (AFPM) released findings from a study in May of 2014 that examined the characteristics of Bakken crude oil and the standards required to transport by rail. In their report, the AFPM claims Bakken crude is within the safety standards for current rail car designs, and is comparable to other light crudes. The AFPM said the study found Bakken crudes are within the regulatory limits for pressure, flashpoint, boiling point and corrosivity for use in Department of Transportation (DOT) approved railcars.

The U.S. rig count increased by 6 to 1,861 rigs running by the end of last week. A total of 326 rigs were targeting natural gas (3 more than the previous week) and 1,531 were targeting oil in the U.S. (3 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 182 rigs are running in the Williston Basin across MT, ND, and SD. 174 are in ND alone.

Not all rigs counted in our census are drilling for the Bakken, but it's close. The NDIC estimates 95% or more of activity in this region targets the Bakken and Three Forks formations.

Note: The NDIC reports 190 rigs are active in North Dakota. That is 7 more than Baker Hughes reports in the Bakken area, and 16 more than the company reports in North Dakota. The difference is likely accounted for in the number of rigs actually working, rigs that might not be serviced by Baker Hughes AND rigs in areas outside of the Bakken fairway. On any given week, a certain number of rigs are in route to the next well location or idle waiting to drill the next well. The NDIC notes that around 14 rigs are in the process of moving in and rigging up.

Bakken Oil & Gas Rigs

The number of oil rigs increased by one to 182 rigs running by the end of the week . WTI oil prices increased by $2 to $102.16/bbl on Friday afternoon. Williston Basin Sweet crude traded at $88.69/bbl on May 16th. The WTI-Brent remained the same, settling at ~$7 by the end of last week.

The natural gas rig count in the region held flat at zero. Natural gas futures (Henry Hub) were trading$4.42/mmbtu by the end of last week. A little more than 10% of the production stream from the Bakken and Three Forks is attributable to natural gas and roughly half of that is NGLs.

McKenzie County continues to lead development with 69 rigs running. Dunn, Mountrail, and Williams counties are the only other counties with more than 20 rigs running each. View the full list below under the Bakken Drilling by County section.

Activity is dominated by horizontal drilling:

167 rigs are drilling horizontal wells
14 rigs are drilling directional wells
1 rig is drilling a vertical well

Bakken Oil & Gas News

Be sure to visit our Bakken Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts