Bakken Rig Count Holds at 27 as Oil Prices Remain Elevated

The North Dakota oil industry is showing signs of stabilization, with the active rig count holding at 27 and benchmark crude prices maintaining strength above $80 per barrel, according to live Bakken data for August 2, 2026.

The current WTI crude price of $84.67 and Brent at $90.12 provide a favorable revenue environment for Bakken producers. The Bakken crude differential, a discount applied to the local grade, was recorded at -$3.42 versus WTI. Natural gas prices were at $2.75.

The rig count of 27 serves as a key indicator of near-term drilling activity and future production potential. Historically, the number of active drilling rigs in the Williston Basin has been a leading indicator, with changes in the count typically preceding shifts in oil production volumes by several months. A stable or increasing rig count suggests operators are committing capital to drill new wells, which will later be completed and brought online.

The current level, sustained in a strong price environment, points to a disciplined approach by operators focused on capital efficiency and shareholder returns, rather than aggressive growth. This activity level is consistent with maintaining existing production profiles in the Bakken formation, North Dakota's primary oil-producing region.

While the rig count alone does not dictate total output—as factors like well completion rates, frac crew availability, and individual well productivity play major roles—it provides a baseline for forecasting. A count in the high 20s suggests that without a significant change, North Dakota's oil production is likely to remain near current levels in the coming quarters.

The sustained higher oil prices help support this steady operational tempo, improving cash flows for operators and royalty owners even as the industry manages ongoing cost pressures. The outlook suggests a period of consolidation and optimization, with operators leveraging high-graded drilling inventories to sustain output from the mature basin.