Bakken Rig Count Steady at 26 as Oil Prices Retreat
North Dakota's drilling activity holds firm despite a midday drop in crude benchmarks, suggesting a focus on core acreage.
The number of active drilling rigs in North Dakota remained unchanged at 26 on Wednesday, July 1, 2026, even as crude oil prices fell sharply in midday trading. The steady rig count suggests operators are maintaining a disciplined focus on their most productive core Bakken acreage.
The benchmark West Texas Intermediate (WTI) crude price was $68.11 per barrel, down $1.39 or 2% for the day. The international Brent crude benchmark traded at $71.19, down $1.76 or 2.41%. The price for Bakken crude at the wellhead is typically discounted against WTI; the live data showed a differential of negative $3.42 per barrel. Natural gas was priced at $3.21 per MMBtu.
Historically, the rig count is a leading indicator for future oil production in North Dakota, with a lag of several months between drilling activity and new wells contributing to output. A stable rig count in the mid-20s, as seen recently, typically correlates with maintaining production from the Bakken formation, the state's primary oil-producing region. It indicates that major operators are continuing development programs but are unlikely to significantly accelerate drilling without sustained higher prices.
The current price environment, with WTI holding above $68 despite the day's drop, is generally seen as supportive for Bakken economics, especially for wells in the core of the play. However, the retreat from recent highs may reinforce a cautious approach to capital spending. Operators have prioritized efficiency and generating free cash flow over aggressive production growth in recent years.
The active rig count is a snapshot of current drilling investment and is closely watched by service companies, royalty owners, and state economists. A count sustained at this level suggests that North Dakota's oil production is likely to remain relatively flat in the coming months, absent a major shift in commodity prices or operator strategy. The state's output has been resilient due to high well productivity and improved operational techniques.
Source
Bakken Wire Live Data as of July 1, 2026.
