Bakken Rig Count Increases by One

May 1, 2015 Elizabeth Alford

Crude and Natural Gas Prices Ion the Rise

The Bakken-Three Forks rig count increased this week to 80 rigs running across our coverage area by midday Friday.

In recent Bakken news, North Dakota lawmakers cleared the way to change a 30 year old tax structure that gave some tax breaks for the oil industry have been linked to a price “trigger.” Debate in North Dakota’s House was fierce and ended in a 66-26 vote in favor of cutting the state’s oil tax rate from 11.5 percent to 10 percent.

The U.S. rig count fell again this week by 27 ending, ending with 905 rigs running by midday Friday. A total of 222 rigs were targeting natural gas (and decrease of three from the previous week) and 679 were targeting oil in the U.S. (24 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)80 rigs are running in the Williston Basin across MT, ND, and SD. 79 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs increased to 80 rigs this week and WTI oil prices continued to climb trading at $58.67/bbl on Friday afternoon. This is a $1.33 from the previous week. The WTI-Brent saw an increase of $.74, landing at $66.02. The Bakken has zero natural active gas rig in the area this week with futures trading at $2.79/mmbtu by midday.

McKenzie County continues to lead development this week and remained flat at 32 running rigs. Williams (17) and Mountrail (15) 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:

80 rigs are drilling horizontal wells
0 rigs are drilling directional wells
0 rigs are drilling vertical wells

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

Bakken Oil & Gas News

U.S. Economic Growth Slows

Who Controls Fracking Regulations?

New Bakken Crude Oil Gathering System

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

Bakken Rig Count Falls Below 80

April 24, 2015 Elizabeth Alford

The Bakken-Three Forks rig count dropped by five to 79 rigs running across our coverage area by midday Friday.

In recent Bakken news, the Department of Transportation issued an emergency order on Friday that establishes a maximum speed of 40 miles an hour for certain trains going through high threat urban areas.

The U.S. rig count fell again this week by another 22 ending at 932 rigs running by midday Friday. A total of 225 rigs were targeting natural gas (and increase of eight from the previous week) and 703 were targeting oil in the U.S. (31 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)79 rigs are running in the Williston Basin across MT, ND, and SD. 78 are in ND alone.

Bakken Oil & Gas Rigs

By midday Friday, the Bakken oil rigs dropped to 78 rigs. WTI oil prices continued to increase this week and were up $1.60 from the previous week, trading at $57.34/bbl on Friday afternoon. The WTI-Brent saw an increase of $1.83 by week’s end, landing at $65.28. There was one natural active gas rig in the area and futures are trading at $2.25/mmbtu by midday.

McKenzie County continues to lead development this week but fell to 32 running rigs. Williams (17) and Mountrail (14) 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:

79 rigs are drilling horizontal wells
0 rigs are drilling directional wells
0 rigs are drilling vertical wells

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

Bakken Oil & Gas Rigs

Fracking Companies Likely to Close

Pipeline Safety Strengthened in North Dakota

Halliburton Lays off 10% of Workforce

What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count Falls to 84

April 17, 2015 Elizabeth Alford

The Bakken-Three Forks rig count dropped by five to 84 rigs running across our coverage area by midday Friday.

In recent Bakken news, the National Transportation Safety Board (NTSB) is urging tougher standards for oil tankers carrying Bakken crude.

The U.S. rig count fell another 34 to 954 rigs running as of today. A total of 217 rigs were targeting natural gas (a decrease of eight from the previous week) and 734 were targeting oil in the U.S. (26 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)84 rigs are running in the Williston Basin across MT, ND, and SD. 83 are in ND alone.

Bakken Oil & Gas Rigs

By midday Friday, the Bakken oil rigs dropped to 84 rigs. WTI oil prices increased $4.10 from the previous week, trading at $55.74/bbl on Friday afternoon. The WTI-Brent saw an increase of $5.58 by week’s end, landing at $63.45. There are currently no natural active gas rigs in the area and futures are trading at $2.63/mmbtu.

McKenzie County continues to lead development this week but fell to 36 running rigs. Williams (17) and Mountrail (14) 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:

83 rigs are drilling horizontal wells
1 rigs are drilling directional wells
0 rigs are drilling vertical wells

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

Bakken Oil & Gas Rigs

Will Bakken Man Camps Disappear?

Bakken Production Expected to Decline

PHMSA Offers Pipeline Safety Grants

What is the Rig Count?

Read more at bakerhughes.com

U.S. Rig Count Drops Below 1,000

April 10, 2015 Elizabeth Alford

The Bakken-Three Forks rig count dropped by two to 91 rigs running across our coverage area by midday Friday.

In recent Bakken news, Shareholders from Halliburton and Baker Hughes recently gave overwhelming approval for a mega-merger that would combine the two companies in a deal estimated at $35 billion.

The U.S. rig count fell another 40 to 988 rigs running as of today. A total of 225 rigs were targeting natural gas (an increase of three from the previous week) and 760 were targeting oil in the U.S. (52 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)89 rigs are running in the Williston Basin across MT, ND, and SD. 88 are in ND alone.

Bakken Oil & Gas Rigs

The number of oil rigs dropped to 89 as of by midday Friday. WTI oil prices increased $2.50 from the previous week, trading at $51.64/bbl on Friday afternoon. The WTI-Brent saw an increase of $2.92 by week’s end, landing at $57.87. There are currently no natural active gas rigs in the area and futures are trading at $2.51/mmbtu by midday.

McKenzie County continues to lead development and increased to 41 running rigs. Williams (16) and Mountrail (15) 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:

88 rigs are drilling horizontal wells
1 rigs are drilling directional wells
0 rigs are drilling vertical wells

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

Bakken Oil & Gas Rigs

Bakken Crude by Rail Under Attack

ALEC Doesn’t Deny Climate Change

ConocoPhillips Reveals Plan to Stay Flexible

What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count Remains Flat

March 27, 2015 Elizabeth Alford

New Regulations For Fracking on Public Lands

The Bakken-Three Forks rig count remained flat at 97 rigs running across our coverage area by midday Friday.

In recent Bakken news, the Bureau of Land Management (BLM) finalized new rules on that will regulate hydraulic oil and gas fracturing on public and tribal lands. The ruling could potentially impact more than 90,000 oil and gas wells and set a precedent for future regulations.

The U.S. rig count fell another 21 to 1048 rigs running as of today. A total of 233 rigs were targeting natural gas (down nine from the previous week) and 814 were targeting oil in the U.S. (41 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)97 rigs are running in the Williston Basin across MT, ND, and SD. 96 are in ND alone.

Bakken Oil & Gas Rigs

The number of oil rigs stayed remained at 97 rigs running by midday. WTI oil prices increased $4.33 from the previous week, trading at $50.05/bbl on Friday afternoon. The WTI-Brent saw an increase of $2.57 by week’s end, landing at $57.70. There are currently no natural active gas rigs in the area and futures are trading at $2.61/mmbtu by midday.

McKenzie County continues to lead development but dropped to 41 running rigs. Williams (19) and Mountrail (18) 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: