North America Rig Count Rises; Energy Stocks Near Record

North America's active rig count increased by eight this week, reversing a recent trend of declines, according to Baker Hughes data reported by Rigzone. The rise in drilling activity signals potential renewed momentum for oilfield services and operators across the continent, including those in the Bakken formation.

Separately, energy stocks are nearing record levels set earlier this year, Rigzone reported. The sustained strength in equity markets reflects investor confidence in the sector, which can influence capital availability for Bakken producers looking to fund drilling programs or manage debt.

In a strategic move outside direct oil and gas production, Equinor has agreed to purchase a majority stake in a 1.48-gigawatt combined-cycle gas turbine (CCGT) power plant in Pennsylvania. According to Rigzone, the Norwegian energy giant and project partner Invenergy will explore further collaboration leveraging Invenergy's operating capabilities and position in the PJM power market.

For the Bakken, these developments paint a picture of a resilient energy landscape. The rising rig count, while a continent-wide figure, suggests underlying industrial activity that supports oil prices and service company health. Strong equity performance provides a favorable environment for publicly traded Bakken operators. Equinor's investment in U.S. power generation underscores a long-term, integrated energy strategy; as a significant Bakken operator through its onshore subsidiary, such investments demonstrate a commitment to the broader North American energy market.

The combined news indicates a sector maintaining operational and financial strength as it navigates the latter half of 2026, with positive indirect effects for North Dakota's core industry.