Bakken Rig Count Holds at 25 as Oil Prices Trade Above $96
High crude prices and a stable rig count suggest North Dakota production may be poised to level off after recent declines.
North Dakota's active drilling rig count held steady at 25 this week, according to live Bakken Wire data, as crude oil prices continued to trade at elevated levels. West Texas Intermediate (WTI) crude was priced at $96.60 per barrel on Saturday, a gain of 25 cents, while the international Brent benchmark rose 71 cents to $100.21.
The current rig count, a leading indicator of future production activity, has remained in the mid-20s for several months. Historically, the number of active rigs in the Williston Basin correlates closely with production levels 6 to 12 months later. The current count is significantly lower than the boom-era highs but represents a stabilization following a steep decline from earlier peaks.
The Bakken's crude price differential, the discount at which Bakken crude trades compared to WTI at the Cushing, Oklahoma hub, was reported at -$3.42 per barrel. This narrower discount improves netbacks for producers in the region. Natural gas prices were reported at $3.02 per MMBtu.
Sustained oil prices above $90 per barrel generally provide economic incentive for operators to maintain or slightly increase drilling and completion activity. However, the rig count's persistence at 25 suggests a focus on capital discipline and efficiency, with companies likely drilling only their highest-return locations.
Industry analysts note that with a rig count in the mid-20s, North Dakota's oil production is likely to find a floor or experience only modest declines in the coming months. Production has trended downward from its record highs as the pace of new well completions has failed to fully offset the steep decline rates of existing wells.
The combination of strong commodity prices and a steady operational tempo indicates that Bakken operators are in a holding pattern. The outlook suggests that without a significant drop in oil prices or an increase in rigs, the state's oil output should remain a major contributor to U.S. supply, albeit at levels below its historical peak.
Source
Live Bakken Wire data for Saturday, May 23, 2026.
