Bakken Rig Count Steady at 28 Amid Oil Price Retreat

North Dakota's active drilling rig count held at 28 on Friday, May 29, 2026, according to Bakken Wire live data. This steady level of activity, combined with current oil prices, suggests a stable near-term outlook for Bakken production.

The benchmark WTI crude price was $87.58, down $1.32 or 1.48% for the day. The Brent crude price was $91.17, down $1.53 or 1.65%. The Bakken crude differential was $-3.42 versus WTI, putting local wellhead prices around $84.16. Natural gas was priced at $3.34.

Historically, the rig count is a leading indicator for future oil production in the Bakken formation. A sustained rig count level typically translates into consistent drilling and completion activity, which supports maintaining or modestly growing production volumes after a lag of several months. The current count of 28 rigs represents a fraction of the peak activity seen during previous boom cycles but indicates a maintained baseline of operational investment.

While the day's price decline may pressure margins, the current WTI level near $87 still provides economic viability for many Bakken wells, particularly in core areas of the play. The steady rig count suggests operators are not immediately adjusting their drilling plans in response to the daily market movement.

For royalty owners and service companies in North Dakota, the sustained activity is a signal of continued cash flow and employment support from the oil sector. Production levels, which lag rig activity, are likely to follow this stable trajectory in the coming quarters unless a significant shift in the rig count or a prolonged price downturn occurs.

The broader context for Bakken operators remains one of disciplined capital allocation, where activity is often tied to long-term price expectations and corporate hedging strategies rather than daily fluctuations. The current data points to a period of consolidation and managed growth within the Williston Basin.