Bakken Rig Count Holds at 29 as Hess Adds, Devon Removes Units

The number of active drilling rigs in North Dakota's Bakken formation held steady at 29 on Tuesday, June 2, according to live data from Bakken Wire. The count saw one new rig added and one removed, resulting in no net change from the previous day.

Hess Bakken Investments II, LLC added the Nabors X27 rig to a location in Williams County (156-97-3). Concurrently, Devon Energy Williston, L.L.C. released the Nabors B 13 rig from McKenzie County (150-99-11).

The current activity level represents a slight increase from one week prior, when 27 rigs were active, and a more significant gain from a month ago, when the state's count stood at 23 rigs. This gradual upward trend in the Bakken contrasts with a broader North American surge; according to Rigzone, the continent added 28 rigs week-on-week in the latest Baker Hughes count.

The steady rig count in North Dakota unfolds against a backdrop of industry uncertainty. According to a recent report highlighted by Yahoo Finance, North Dakota officials are pushing for rapid progress on next-generation oil production technology ahead of a potential change in the federal administration. However, oil and gas executives have expressed concerns about the timeline, with one summary noting executives say "there’s" uncertainty facing the industry regarding what the Bakken's next era will look like.

While the onshore Bakken rig fleet shows incremental growth, consolidation continues in the offshore drilling sector. In a separate transaction reported by Rigzone, Eldorado agreed to acquire Vantage Drilling on June 2 to create a more scalable offshore drilling platform. This move highlights ongoing strategic shifts within the broader oilfield services and drilling industry.

The stability of the Bakken rig count near the 30-rig mark suggests operators are maintaining a measured pace of development. The addition by Hess, a major Bakken operator, indicates continued investment in core areas like Williams County, while Devon's release may reflect the conclusion of a drilling program or a shift in capital allocation. The overall count remains significantly below pre-pandemic highs but has recovered from lows seen earlier in the decade.

With 29 rigs actively drilling, North Dakota's oil production, which primarily comes from the Bakken and Three Forks formations, is likely to be sustained at current levels. Further increases in the rig count would be necessary to significantly boost production volumes. The coming months will reveal if operators accelerate activity in response to commodity prices or hold steady amid the political and technological uncertainties cited by industry leaders.