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BAKKEN WIRE
Bakken Rig Count Holds at 25 as Oil Prices Retreat from Recent Highs - Bakken Wire
Production Data

Bakken Rig Count Holds at 25 as Oil Prices Retreat from Recent Highs

The stable rig count and weaker price environment suggest a cautious outlook for near-term production growth in North Dakota.

Bakken Wire Staff·🔆Midday Wire·

The number of active drilling rigs in North Dakota remained at 25 on Monday, July 20, 2026, as crude oil prices edged lower. The stable rig count points to a sustained, but measured, level of operator activity in the Bakken formation.

West Texas Intermediate (WTI) crude was trading at $81.33 per barrel, down $0.45 for the day. The international benchmark Brent crude was at $87.90. The price for Bakken crude at the wellhead is typically discounted against WTI, with the differential at negative $3.42 per barrel on Monday. Natural gas prices were at $2.84 per MMBtu.

The current rig count of 25 is a key indicator for future production. Historically, the number of active drilling rigs is a leading indicator for oil output, with changes in the count typically reflected in production levels several months later. A stable count suggests operators are maintaining, but not aggressively expanding, their drilling programs.

The recent pullback in oil prices from higher levels may be contributing to a cautious operational stance. While prices remain in a range many consider supportive for Bakken drilling, the decline reduces immediate cash flow and can influence capital spending decisions. The differential, while not extreme, also slightly reduces the netback for Bakken producers compared to the headline WTI price.

For North Dakota, a rig count in the mid-20s has been associated with maintaining production at or near current plateau levels. Significant production growth typically requires a substantially higher and sustained increase in drilling activity. The current activity level suggests operators are focusing on efficiency and capital discipline, drilling only their highest-return locations.

The outlook for Bakken production in the coming months is therefore likely one of stability. Barring a significant move in commodity prices, the rig count would need to trend meaningfully higher to signal a return to robust growth. Market watchers will monitor future rig count reports and price action for signs of a shift in operator sentiment.

Source

Bakken Wire Live Data as of Monday, July 20, 2026

rig countoil priceproduction outlookbakkennorth dakotawtidrilling activity

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