Bakken Rig Count Holds at 22 as Oil Prices Plunge

North Dakota's active drilling rig count held at 22 on Saturday, April 18, 2026, according to midday data from Bakken Wire. The steady rig activity comes amid a significant downturn in crude oil prices during the trading session.

West Texas Intermediate (WTI) crude was trading at $82.59 per barrel, down $8.58 or 9.41% from the previous close. The international Brent benchmark fell to $90.38, a drop of $9.01 or 9.07%. The price for Bakken crude at the wellhead is typically discounted against WTI, with the differential currently at -$3.42. Natural gas was priced at $2.67 per MMBtu.

The current rig count of 22 provides a snapshot of near-term drilling investment by operators in the Williston Basin. Historically, the number of active rigs is a leading indicator for future oil production, as it takes several months for new wells to be drilled, completed, and brought online. A stable rig count suggests operators are maintaining a consistent, though muted, level of development activity.

The sharp midday price decline presents a headwind for Bakken producers. While the absolute price near $82 for WTI remains above levels that would trigger widespread shut-ins, the rapid drop could influence future capital spending decisions if sustained. The Bakken differential, which reflects local transportation and quality factors, indicates Bakken crude is fetching approximately $79.17 per barrel at the hub.

For North Dakota, production trends are closely tied to operator responses to price signals and capital availability. The current rig level is significantly lower than the boom-era peaks but has shown resilience in recent years, reflecting a industry focus on capital discipline and generating free cash flow rather than pursuing growth at any cost.

The near-term production outlook for the Bakken formation will depend on whether operators can maintain or slightly increase the pace of drilling and completions with the current rig fleet. Efficiency gains have allowed companies to sustain output with fewer rigs, but a prolonged period of low prices or high volatility could pressure activity levels. The midday price plunge will be a key data point for executives assessing second-quarter plans.