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North Dakota Rig Count Climbs to 30 With Two New Additions - Bakken Wire
Rig Report

North Dakota Rig Count Climbs to 30 With Two New Additions

Phoenix Operating and Hess Bakken add rigs in Divide and Mountrail counties as state's active fleet grows by 7 over the past month.

Bakken Wire Staff·🌅Afternoon Wire·

North Dakota's active drilling rig count rose to 30 on Friday, May 29, with two new rigs reported and none removed, according to live data from Bakken Wire. The count is up by five rigs from one week ago and up by seven from the 23 rigs active a month ago on April 29.

The new additions include Phoenix Operating LLC's T&S DRILLING 2, located at 162-95-27 in Divide County, and HESS BAKKEN INVESTMENTS II, LLC's NABORS X-10, located at 154-93-8 in Mountrail County. No rigs were reported as moving location on Friday.

The state's upward trend mirrors a national increase in drilling activity this week. According to data from Baker Hughes published Friday and reported by OilPrice.com, the total number of active drilling rigs for oil and gas in the United States rose, with the number of active oil rigs increasing by 4 to 429. The broader Permian Basin saw a rig count increase of 5, reaching 255.

This expansion occurs despite a weekly drop in oil prices. OilPrice.com reported that on Friday morning, West Texas Intermediate (WTI) crude was trading at $87.85, down 1.05% on the day and down $10 week over week. The price decline was attributed to market rumors of a potential U.S. deal with Iran.

The national rig activity is supported by strong production figures. The latest U.S. Energy Information Administration data showed that weekly U.S. crude oil production averaged 13.702 million barrels per day for the week ending May 15, which is just 160,000 bpd under the all-time high, according to OilPrice.com. Furthermore, Primary Vision’s Frac Spread Count, which estimates crews completing wells, rose by 5 to 184 for the week ending May 15, reaching its highest level since last June.

Internationally, political developments continue to shape the drilling landscape. In Europe, Norway is campaigning for the European Union to withdraw a moratorium on new oil and gas drilling in the Arctic, according to Rigzone. Separately, Rigzone reported that Reform UK Deputy Leader Richard Tice told energy industry representatives that his party would prioritize cutting energy bills and supporting North Sea drilling over green energy investments if it wins the next UK general election.

For the Bakken, the steady climb in rigs over the past month signals continued investment by operators in the formation, with Hess and Phoenix Operating among the companies deploying capital for new drilling operations.

Source

Bakken Wire live rig data, OilPrice.com, Rigzone

rig countdrillinghessphoenix operatingdivide countymountrail countybakkenoil production

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