Bakken Rig Count Holds at 25 Amid Strong Oil Prices

North Dakota's active drilling rig count held steady at 25 this week, according to live Bakken Wire data for Sunday, May 24, 2026. The figure continues a long-term trend of subdued activity compared to historical boom periods, even as benchmark oil prices trade at elevated levels.

West Texas Intermediate (WTI) crude was priced at $96.60 per barrel, up 0.26%, while the global Brent benchmark traded above $100. The Bakken crude differential—the discount at which local crude trades versus WTI—was -$3.42 per barrel. Natural gas prices were reported at $3.02.

The current rig count of 25 serves as a key leading indicator for future production in the Bakken formation. Historically, the number of active rigs has a direct correlation with oil production levels, with a several-month lag between drilling activity and new wells coming online. The current count remains a fraction of the peak seen in the previous decade when over 200 rigs were routinely active in the state.

The sustained high price environment, with WTI flirting with $97, provides a favorable economic backdrop for operators. However, the persistently low rig count suggests that major producers are maintaining capital discipline, focusing on efficiency and returns from existing wells rather than aggressively expanding drilling programs. This strategy typically leads to a stabilization or gradual decline in overall production unless significant gains in well productivity are achieved.

For Bakken operators and royalty owners, the current dynamic means production levels are likely to remain on a plateau in the near term. The strong absolute price for Bakken crude—calculated by applying the differential to WTI—generates healthy cash flows but has not yet triggered a significant uptick in new drilling activity. The outlook suggests a focus on optimizing current assets while the industry watches for any sustained price signals or policy changes that could justify increasing the rig count.