Bakken Rig Count Remains Low at 24 as Prices Surge

The number of active drilling rigs in North Dakota held steady at 24 on Wednesday, July 8, according to Bakken Wire data, a level historically associated with subdued field activity. This comes as crude oil prices posted significant midday gains, with WTI climbing 7.51% to $75.73 and Brent rising 7.98% to $80.08.

The persistent low rig count, a key indicator of drilling and completion work, suggests that direct employment for field crews—including drillers, fracking teams, and construction workers—remains constrained. For Bakken communities, the relationship between rig activity and local economic health is direct: higher rig counts drive demand for housing, support services, and retail spending.

While the midday price surge improves cash flow for producers and royalty owners, translating into a stronger differential for Bakken crude at $-3.42 versus WTI, it has not yet spurred an increase in physical activity. The natural gas price remained at $3.25.

In the Bakken formation, the rig count serves as a primary barometer for workforce demand. At 24 rigs, the region is operating well below the boom-era peaks seen in the early 2010s, which saw counts exceed 200 and created severe housing shortages and rapid population growth in cities like Williston and Dickinson.

Current conditions suggest a stabilized, but quieter, economic environment for western North Dakota. Municipal budgets, which often rely on oil-related tax revenues, benefit from higher prices, but the direct jobs and transient worker influx that drive immediate local spending are limited by the low level of drilling operations.

The disconnect between rising prices and static activity may reflect operator caution, with companies prioritizing financial discipline and shareholder returns over rapid production growth. For Bakken communities, this means the economic impacts are more diffuse, focused on sustained production from existing wells rather than the high-intensity cycle of new well development.