Bakken Rig Count Holds at 26 as Oil Prices Climb

The active rig count in North Dakota held steady at 26 on Friday, June 19, 2026, as crude oil prices posted modest gains. The stability in drilling activity, combined with current price levels, points to a potential stabilization of Bakken production after a period of decline.

West Texas Intermediate crude traded at $76.61 per barrel, up $0.76 or 1% for the day, according to live Bakken Wire data. The international Brent benchmark followed suit, rising 0.98% to $80.63. The Bakken crude differential was reported at a discount of $3.42 versus WTI, setting the local wellhead price near $73.19. Natural gas was priced at $3.21.

The rig count of 26 serves as a concrete indicator of current operator investment in new well drilling. Historically, the rig count is a leading indicator for future production, as new wells take months to drill, complete, and bring online. The current count is significantly lower than the boom-era highs but has shown relative stability in recent quarters at this level.

This sustained rig activity, supported by oil prices comfortably above many operators' breakeven costs, suggests that the steep production declines seen in some prior months may begin to moderate. Operators are likely focusing capital on their most productive core acreage within the Bakken and Three Forks formations.

For royalty owners and service companies, a steady rig count provides a measure of predictability for local economic activity. However, the count remains sensitive to fluctuations in crude prices, as seen in past cycles where a significant price drop led to rapid reductions in drilling.

The current price environment, with WTI above $76, appears sufficient to maintain the existing pace of development but may not incentivize a substantial near-term increase in drilling. The focus for many Bakken operators continues to be on capital discipline and maximizing free cash flow from existing operations, rather than aggressive volume growth.