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BAKKEN WIRE
Bakken Rig Count Holds at 24 as Oil Prices Retreat from Highs - Bakken Wire
Production Data

Bakken Rig Count Holds at 24 as Oil Prices Retreat from Highs

North Dakota's active drilling fleet remains steady, but falling crude prices could pressure future production growth.

Bakken Wire Staff·🔆Midday Wire·

North Dakota's active drilling rig count held steady at 24 on Friday, April 24, 2026, as benchmark oil prices retreated from recent highs. The stability in the rig count suggests a measured pace of near-term development in the Bakken formation.

The price of West Texas Intermediate crude settled at $93.54 per barrel, down $2.31 or 2.41% for the day. Brent crude also declined, trading at $98.49. The Bakken crude differential was $-3.42 versus WTI, putting local wellhead prices near $90.12. Natural gas traded at $2.65 per MMBtu.

The current rig count of 24 is a key indicator of future production. Historically, the number of active drilling rigs in North Dakota has served as a leading indicator for oil output, with changes in the fleet typically preceding changes in production volumes by several months. The current level represents a fraction of the peak activity seen in previous boom cycles but has been relatively consistent in recent quarters, supporting a plateau in the state's production.

"Rigs are the engine of future supply. A steady count like we see today suggests operators are maintaining, but not aggressively expanding, their drilling programs," said a Bakken Wire market analyst. "The focus remains on efficiency and capital discipline."

The day's pullback in oil prices, if sustained, could influence operator decisions for the second half of the year. While prices remain above levels that support economic drilling in the core of the play, significant volatility or a prolonged downturn could lead to a reassessment of activity levels.

North Dakota's oil production has been hovering near 1.3 million barrels per day in recent months. With the rig count unchanged, analysts expect output to remain relatively flat in the near term, barring significant changes in well productivity or completion activity.

For Bakken operators and royalty owners, the current environment balances profitable operations at prevailing prices against macroeconomic uncertainty. The stable rig count indicates a continuation of current development plans, but the market will watch closely for any rig additions or drops in response to the evolving price landscape.

Source

Bakken Wire Live Data as of April 24, 2026

rig countoil pricewtibakken differentialproduction outlooknorth dakota

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