Bakken Production, Well Count Hit Records as Industry Eyes Next Tech Wave

North Dakota's oil industry is accelerating on two fronts: near-term production has reached new highs amid a global price surge, while a major industry conference this week focused on long-term technological efforts to unlock the next era of Bakken development.

The state set a record for active producing wells in March, with 19,639 wells online, according to the Department of Mineral Resources' monthly briefing on May 22. Production for the month averaged 1.142 million barrels per day, a near 1% increase from February. Officials cited the impact of the U.S. war with Iran, which began Feb. 28, and the closure of the Strait of Hormuz on global markets.

The price environment has shifted dramatically. North Dakota's wellhead price jumped to $84.33 per barrel in March from $57.74 in February, the state reported. This has prompted a change in activity. Continental Resources founder Harold Hamm announced on May 21 that his company will resume drilling new rigs in North Dakota, reversing a January decision to halt new drilling due to low prices.

The national rig count is also rising. Baker Hughes reported on May 22 that the U.S. oil and gas rig count increased by 7 to 558, marking its fifth consecutive weekly gain and the highest count since June 2025.

Concurrently, the Williston Basin Petroleum Conference was held in Bismarck this week, focused on the future. The gathering celebrated 75 years of oil production in North Dakota and focused on "Bakken 2.0"—the push to improve recovery rates from the formation. According to a column summarizing the event, current technology recovers less than 15% of the oil trapped in the Bakken formation.

A combined investment exceeding $100 million from the state of North Dakota, the U.S. Department of Energy, and private industry is fueling research into enhanced oil recovery (EOR). Conference speakers discussed using CO2, surfactant chemicals, advanced seismic imaging, artificial intelligence, and new drilling methods to improve recovery and extend the life of the Bakken.

The record well count and resumption of drilling by major operators like Continental Resources underscore the basin's immediate responsiveness to improved economics. Meanwhile, the large-scale EOR research initiative highlights the industry's long-term commitment to sustaining the Bakken as a premier oil province for decades to come.