Bakken Rig Count Continues Decline

June 6, 2015 Elizabeth Alford

Bakken Rig Count Remains Steady — Rig Count Falls by One

The Bakken-Three Forks rig count declined by one to end the week at 75 rigs running across our coverage area.

In recent Bakken news, North Dakota’s oil trigger was expected to take place June 1st, but rising crude prices mean it won’t be implemented and producers will miss out on an estimated $480 million over the next six months.

The U.S. rig count fell by seven, ending with 868 rigs running by midday Friday. A total of 222 rigs were targeting natural gas (down three from the previous week) and 642 were targeting oil in the U.S. (four less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)76 rigs are running in the Williston Basin across MT, ND, and SD. 76 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs stayed at 75 rigs this week with Bloomberg reporting WTI oil prices trading at $59.13/bbl on Friday afternoon, a $1.08 decrease from the previous week. WTI-Brent decreased $2.08 landing at $63.31. The Bakken has zero natural active gas rig in the area this week with futures trading dipping to $2.59/mmbtu by midday.

McKenzie County continues to lead development but fell to 3o running rigs this week. Williams (18) and Mountrail (13) 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:

74 rigs are drilling horizontal wells
0 rigs are drilling directional wells
1 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

Floods Threaten Bakken Producers

Shale Oil: The Sky’s the Limit

Energy Executives Forced to Adapt

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 Down to 76

May 29, 2015 Elizabeth Alford

The Bakken-Three Forks rig count declined by one to end the week at 76 rigs running across our coverage area.

In recent Bakken news, well completions in the area rose sharply last month, according to the North Dakota Department of Mineral Resources (DMR). The DMR reports a preliminary completion count for March was 189, up 350% from 42 the previous month.

The U.S. rig count fell by 10, ending with 875 rigs running by midday Friday. A total of 225 rigs were targeting natural gas (an increase of three from the previous week) and 646 were targeting oil in the U.S. (13than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)77 rigs are running in the Williston Basin across MT, ND, and SD. 77 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs stayed at 76 rigs this week with Bloomberg reporting WTI oil prices trading at $60.21/bbl on Friday afternoon, a $.49 increase from the previous week. WTI-Brent increased $.02 landing at $65.39. The Bakken has zero natural active gas rig in the area this week with futures trading dipping to $2.65/mmbtu by midday.

McKenzie County continues to lead development this week at 33 running rigs. Williams (19) and Mountrail (13) 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:

76 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

Whiting Announces Strong First Quarter

Continental Resources Aggressively Cuts Costs

What is the Rig Count?

Read more at bakerhughes.com

Bakken Rigs Decrease to 77

May 23, 2015 Elizabeth Alford

The Bakken-Three Forks rig count fell two more this week to 77 rigs running across our coverage area by midday Friday.

In recent Bakken news, An energy poll by the University of Texas found that less than half of the 2000 people surveyed were even familiar with the Keystone XL Pipeline, the controversial pipeline that would carry millions of barrels of crude from Canada to Texas.

The U.S. rig count fell by three, ending with 885 rigs running by midday Friday. A total of 222 rigs were targeting natural gas (a decrease of one from the previous week) and 659 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.)78 rigs are running in the Williston Basin across MT, ND, and SD. 77 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs stayed at 77 rigs this week with Bloomberg reporting WTI oil prices trading at $59.72/bbl on Friday afternoon, a $.21 increase from the previous week. WTI-Brent decreased $1.33, landing at $65.37. The Bakken has zero natural active gas rig in the area this week with futures trading dipping to $2.89/mmbtu by midday.

Activity continues to be dominated by horizontal drilling:

77 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

New Bakken Pipeline in the Works

BNSF Railway Abandons Plans to Buy Tanker Cars

What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count Down to 79

May 15, 2015 Elizabeth Alford

The Bakken-Three Forks rig count fell this week to 79 rigs running across our coverage area by midday Friday.

In recent Bakken news, the SEC froze the assets of North Dakota Developments, LLC (“NDD”) and its principles, claiming they defrauded over 980 investors from 66 different countries of $62 million dollars intended to go towards Bakken man camps.

The U.S. rig count fell by six, ending with 888 rigs running by midday Friday. A total of 223 rigs were targeting natural gas (an increase of two from the previous week) and 660 were targeting oil in the U.S. (eight 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. 79 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs stayed at 79 rigs this week and WTI oil prices continued to climb trading at $59.51/bbl on Friday afternoon, a $.12 increase from the previous week. The WTI-Brent saw an increase of $1.31, landing at $66.70. The Bakken has zero natural active gas rig in the area this week with futures trading increasing to $3.02/mmbtu by midday.

McKenzie County continues to lead development this week at 34 running rigs. Williams (19) and Mountrail (13) 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 News

EOG Waiting Out Oil Prices

Has the Bakken Peaked?

N.D. Legislative Session Ends

What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count Stays Flat

May 9, 2015 Elizabeth Alford

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

In recent Bakken news, the first U.S. refinery built in over 30 years began operations this week at the new Dakota Prairie refinery, located on 375 acres in Stark County, four miles west of Dickinson, N.D

The U.S. rig count fell again this week by 11 ending, ending with 894 rigs running by midday Friday. A total of 221 rigs were targeting natural gas (and decrease of one from the previous week) and 668 were targeting oil in the U.S. (11 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. 80 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs stayed at 80 rigs this week and WTI oil prices continued to climb trading at $59.39/bbl on Friday afternoon, a $.63 increase 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 increasing to $2.88/mmbtu by midday.

McKenzie County continues to lead development this week by climbing two to 34 running rigs. Williams (19) and Mountrail (13) 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: