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North Dakota Rig Count Holds Steady at 30 - Bakken Wire
Rig Report

North Dakota Rig Count Holds Steady at 30

The state's drilling activity plateaus after recent gains, while the national oil rig count rises for a sixth consecutive week.

Bakken Wire Staff·☀️Morning Wire·

The number of active drilling rigs in North Dakota held at 30 on Saturday, May 30, with no rigs added, removed, or moved since the previous day, according to live Bakken Wire data. The current count represents a significant increase from levels seen earlier this spring.

Activity in the Bakken formation is up five rigs from one week ago, when 25 rigs were active on May 23, and is seven rigs higher than the count of 23 recorded one month ago on April 30. This period of growth aligns with a broader national trend of rising rig deployments.

The total number of active drilling rigs for oil and gas in the United States rose this week, according to Baker Hughes data published on Friday, May 29. The national count increased by 4 to 562 rigs, which is down just 1 from the same time last year, OilPrice.com reported. The number of active oil rigs specifically rose by 4 to 429.

This marks the sixth straight week of increases for U.S. oil rigs, according to a separate summary from Bing News, which noted the total is at its highest level in a year. The primary driver was activity in the Permian Basin, where the rig count rose by 5 to reach 255. The Eagle Ford play held steady at 44 rigs.

Supporting the increased drilling activity, well completion crews are also on the rise. Primary Vision’s Frac Spread Count, an estimate of crews completing wells, rose by 5 for the week ending May 15, reaching 184 crews—the highest level since June of last year, OilPrice.com reported.

The rig additions come despite a recent pullback in oil prices. On Friday morning, May 29, Brent crude was trading at $91.99 per barrel, down 1.84% on the day and $12 lower week-over-week. West Texas Intermediate (WTI) was at $87.85, down 1.05% on the day and $10 lower for the week, according to the same source. The price drop was attributed to market rumors of a potential U.S. deal with Iran.

U.S. crude oil production remains near record levels. Data from the U.S. Energy Information Administration for the week ending May 15 showed production averaging 13.702 million barrels per day, just 160,000 bpd under the all-time high.

The current North Dakota rig count of 30, while stable for the day, reflects a responsive drilling sector that has added capacity over the past month in tandem with national operators. The plateau follows a period of steady gains, suggesting operators may be evaluating the recent price volatility before making further adjustments to their drilling programs.

Source

Bakken Wire Live Rig Data, OilPrice.com, Bing News Summary

rig countdrillingbakkennorth dakotabaker hughesoil productionwti

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