Bakken Rig Count Holds at 33 After Net Loss of One Rig

North Dakota's active drilling rig count fell by a net of one to 33 on Wednesday, August 19, according to live Bakken Wire data. The day saw one new rig spud, two rigs released, and one rig change locations.

Whiting Oil and Gas Corporation added the sole new rig, NABORS B26, to a site in McKenzie County (150-103-14). Meanwhile, two major operators released equipment: XTO Energy Inc. removed NOBLE 2 from McKenzie County (153-96-3), and Hess Bakken Investments II, LLC released ENSIGN 532 from Mountrail County (157-93-17). In a separate move, Hunt Oil Company relocated rig NABORS B21 to a new Mountrail County location (156-90-13).

Despite the daily net decrease, the current activity level remains elevated compared to recent history. The rig count is up by three from one week ago (30 rigs on August 12) and has surged by nine rigs over the past month (from 24 rigs on July 20).

The rig activity in the Bakken contrasts with the situation in other global oil regions. According to a report from OilPrice.com, oilfield services giant SLB is preparing to reactivate as many as 15 drilling rigs in Venezuela, where only two active onshore rigs were reported at the end of July. SLB executives stated at an industry conference that as many as four rigs could return to service there before the end of 2026, with all 15 potentially working within a year. The effort aims to help Venezuela rebuild an industry with current capacity around 1.25 million barrels per day.

The report notes that more drilling is essential for substantial production growth, a principle that applies in North Dakota as well. Major operators like Chevron have highlighted the link between rig activity and output, with the supermajor expecting a potential 50% increase in its Venezuelan joint venture production by the end of 2028. However, the article also cites ongoing obstacles for international operations, including difficulties importing equipment and securing contractual protections.

In the Bakken, the steady addition of rigs over the past month suggests operators are responding to market conditions and executing drilling programs, though daily rig moves and releases indicate ongoing portfolio optimization. The concentration of activity in core counties like McKenzie and Mountrail continues to define the basin's development.