Bakken Rig Count Holds at 27 as Oil Prices Retreat Sharply

North Dakota's Bakken formation held a steady 27 active drilling rigs on Friday, June 12, 2026, a key indicator of stable near-term development activity even as crude oil prices fell sharply. According to midday data, West Texas Intermediate (WTI) crude traded at $84.54 per barrel, down $3.17 (-3.61%), while the international Brent benchmark was at $86.92, down $3.46 (-3.83%).

The Bakken crude price differential—the discount at which Bakken crude sells compared to WTI at the Cushing, Oklahoma hub—was reported at -$3.42. This translates to a wellhead price of approximately $81.12 per barrel for Bakken producers based on the current WTI price. Natural gas prices were recorded at $3.11 per MMBtu.

The current rig count of 27 provides a concrete baseline for forecasting future Bakken oil production. Rig count is a leading indicator, as new wells drilled today typically take several months to be completed and brought online. A stable count suggests operators are maintaining, but not aggressively expanding, their development pace.

Historically, the rig count in North Dakota has shown a strong correlation with subsequent oil production trends. Significant increases in the active rig fleet have preceded production growth, while sustained declines have led to output plateaus or decreases. The current level of activity is consistent with a focus on core acreage and capital discipline among operators.

The midday price retreat introduces a note of caution into the outlook. While the current Bakken wellhead price remains above levels that would trigger widespread shut-ins, sustained lower prices could impact operator cash flows and future capital budgets. For now, the steady rig count implies that development plans for the second half of 2026 remain intact.

For royalty owners and service companies in the Williston Basin, the data suggests a continuation of the current production tempo. The focus for operators is likely to remain on maximizing recovery from existing wells and high-grading the most productive drilling locations, rather than pursuing rapid growth.