Industry Welcomes Federal Drilling Act, Shell Divests, Oil Prices Dip
A roundup of operator news impacting the Bakken region on July 31, 2026.
Industry groups are welcoming the Senate Natural Resources Committee's approval of the License to Drill Act, according to a report from Rigzone. The act, S.5039, reauthorizes a long-standing policy that provides a critical framework for producers operating on federal lands. "S.5039 reauthorizes a long-standing policy that is an important framework for federal land producers," Dan Naatz, Executive Vice President and Chief Policy Officer of the Independent Petroleum Association of America (IPAA), told Rigzone. For Bakken operators with federal acreage in North Dakota, regulatory certainty on permitting is a key operational consideration.
In a separate international deal reported by Rigzone, Shell has divested its stake in the Aphrodite gas field to Hungary's MOL. The company stated the move was part of a strategic portfolio shift. "Our decision to exit is driven by disciplined capital allocation and portfolio choices, as we focus on opportunities that strengthen our integrated LNG value chain," Shell said, according to the source. While not a direct Bakken asset, such portfolio moves by major operators can signal broader industry trends in capital discipline and strategic focus.
Meanwhile, oil prices were down in midday trading on Friday, July 31, but remained on track for significant gains for the month, Rigzone reported. Both Brent and West Texas Intermediate crude benchmarks were lower for the day. However, Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, noted they are "still on track for notable monthly gains," outlining a potential 20 percent increase for July. For Bakken producers, strong monthly price performance supports cash flow and drilling economics, even with daily volatility.
These developments highlight a day of regulatory progress, strategic asset management, and resilient commodity prices. The Bakken formation, a key driver of North Dakota's economy, remains sensitive to federal land policies and global oil market trends.
Source
Rigzone reports from July 31, 2026.
