Bakken Rigs Reduce to 66

September 26, 2015 Elizabeth Alford

Bakken Rig Count Remains Steady — 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.

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

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

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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

Bakken Rig Count Stays Flat

August 28, 2015 Elizabeth Alford

The Bakken-Three Forks rig count remained at 71 rigs running across our coverage area by end of the week on Friday.

In recent Bakken news, Bentek Energy reported a slight increase in oil production for North Dakota in July, saying that the Bakken formation follows closely behind the Eagle Ford Basin in terms of efficiency gains and internal rates of return. Drill times in the Bakken dropped from about 15 days per well in late 2014 to about 13 days per well during the second quarter of this year.

The U.S. rig count decreased by eight, ending with 877 rigs running by midday Friday. A total of 202 rigs were targeting natural gas (nine less than the previous week) and 675 were targeting oil in the U.S. (one more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)72 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs were at 71 rigs this week with Bloomberg reporting WTI oil prices trading at $44.99/bbl on Friday afternoon, a $4.54 increase from the previous week. WTI-Brent increased $4.56 landing to $50.02. The Bakken has zero natural active gas rig in the area this week with futures increasing slightly to $2.71/mmbtu by midday.

McKenzie County continues to lead development though falling to 22 rigs this week, while Williams (14) and Dunn (13) followed behind. View the full list below under the Bakken Drilling by County section.

Activity continues to be dominated by horizontal drilling:

68 rigs are drilling horizontal wells
1 rigs are drilling directional wells
2 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

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What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count at 71

August 21, 2015 Elizabeth Alford

The Bakken-Three Forks rig count increased to 71 rigs running across our coverage area by end of the week on Friday. In recent Bakken news, crude oil has fallen to a six year low in recent weeks, but even at the current price of around $43, analysts speculate the Bakken will remain strong.

The U.S. rig count increased by one, ending with 885 rigs running by midday Friday. A total of 211 rigs were targeting natural gas (the same as the previous week) and 674 were targeting oil in the U.S. (two more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 72 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs were at 71 rigs this week with Bloomberg reporting WTI oil prices trading at $40.45/bbl on Friday afternoon, a $1.68 decrease from the previous week. WTI-Brent decreased $3.57 landing to $45.46. The Bakken has zero natural active gas rig in the area this week with futures decreasing to $2.68/mmbtu by midday.

McKenzie County continues to lead development and is running 26 running this week, while Williams (15) and Mountrail (12) followed behind. View the full list below under the Bakken Drilling by County section.

Activity continues to be dominated by horizontal drilling:

61 rigs are drilling horizontal wells
1 rigs are drilling directional wells
2 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

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What is the Rig Count?

Read more at bakerhughes.com

Bakken Rigs Fall Back to 68

August 15, 2015 Elizabeth Alford

The Bakken-Three Forks rig count fell to 68 rigs running across our coverage area by end of the week on Friday.

In recent Bakken news, on Tuesday China made the move to devalue its currency, sending shockwaves around the globe and contributing to U.S. crude oil falling to its lowest levels in six years.

Bakken Oil & Gas Rigs

The Bakken oil rigs fell back to 68 rigs this week with Bloomberg reporting WTI oil prices trading at $42.13/bbl on Friday afternoon, a $4.78 decrease from the previous week. WTI-Brent decreased $2.95 landing to $49.03. The Bakken has zero natural active gas rig in the area this week with futures increasing to $2.81/mmbtu by midday.

McKenzie County continues to lead development and is running 26 running this week, while Williams (15) and Mountrail (11) followed behind. View the full list below under the Bakken Drilling by County section.

Activity continues to be dominated by horizontal drilling:

65 rigs are drilling horizontal wells
0 rigs are drilling directional wells
3 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

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What is the Rig Count?

Read more at bakerhughes.com

Bakken Rig Count Back to 70

August 8, 2015 Elizabeth Alford

The Bakken-Three Forks rig count rose to 70 rigs running across our coverage area by end of the week on Friday.

In recent Bakken news, Whiting petroleum announced second quarter earnings this week that highlighted record production and plans to complete 40 to 50 wells in the Bakken. As second quarter earning results are trickling, many companies are showing signs that they are shifting their priorities from growth to survival.

The U.S. rig count increased by 10, ending with 884 rigs running by midday Friday. A total of 213 rigs were targeting natural gas (four more than the previous week) and 670 were targeting oil in the U.S. (six more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)71 are in ND alone.

Bakken Oil & Gas Rigs

The Bakken oil rigs increased at 70 rigs this week with Bloomberg reporting WTI oil prices trading at $44.02/bbl on Friday afternoon, a $2.89 decrease from the previous week. WTI-Brent decreased $3.33 landing to $48.65. The Bakken has zero natural active gas rig in the area this week with futures increasing to $2.80/mmbtu by midday.

McKenzie County continues to lead development and is running 26 running this week, while Williams (16) and Mountrail (11) followed behind. View the full list below under the Bakken Drilling by County section.

Activity continues to be dominated by horizontal drilling: