North Dakota Rigs Flat at 33; Bakken Gas Midstream Deal Adds Context

North Dakota's active rig count stood at 33 on Thursday, with no new rigs, no rigs removed and no rigs that moved location, according to Bakken Wire rig data.

The daily count was unchanged, but the weekly trend was lower. Active rigs are down three from 36 reported a week earlier, on Nov. 5, 2026. Compared with one month ago, Oct. 13, the count is down one from 34.

For Bakken operators, the unchanged day-over-day count showed no immediate drilling additions, while the weekly decline marked a contraction in active rigs. The monthly comparison showed a smaller decrease than the one-week change.

Royalty owners and service companies track rig counts as a gauge of development activity. The 33-rig count is below both the one-week and one-month levels.

Infrastructure news in the northeastern Bakken provided additional context for producers. Bing News reported on Nov. 10 that Bayou Midstream II, a Houston-based energy infrastructure company backed by EIV Capital, completed the acquisition of Argent Gas Solutions from Silver Hill Energy Partners.

The transaction expands Bayou's natural gas gathering, compression and processing capabilities in North Dakota's Bakken region and provides an established infrastructure platform for future development, according to Bing News.

Argent owns and operates assets across Williams, Burke and Mountrail counties in North Dakota, serving natural gas producers in the northeastern Bakken. The acquired system includes approximately 85 miles of natural gas gathering pipelines and associated compression equipment.

It also has more than 60 million standard cubic feet per day of natural gas processing capacity. Approximately 140,000 acres are dedicated to the system, providing a substantial existing production footprint.

Natural gas gathering infrastructure connects producing wells to processing facilities and transportation networks. These assets help energy producers collect and process gas, supporting commercial production while managing the operational requirements of oil and natural gas development.

Bayou previously developed, owned and operated pipelines and related infrastructure in McKenzie County, North Dakota, and Richland County, Montana. The Argent acquisition represents the company's return to the North Dakota market, Bing News reported.

Bayou intends to use the existing system as a platform for continued growth while supporting producers developing resources in the northeastern Bakken. The company expects opportunities to expand gathering and processing services as production activity develops across the region, according to Bing News.

The transaction also continues Bayou's relationship with EIV Capital, which has supported the management team's energy infrastructure investments through two partnerships spanning approximately eight years. EIV Capital is a Houston-based private equity firm established in 2009.

The firm invests across the North American energy industry, combining financial capital with operating and engineering expertise. Its investment activities include developing infrastructure businesses and acquiring non-operated oil and gas interests.

Silver Hill Energy Partners acquired the Argent system as part of its entry into the Bakken in March 2024. At that time, Argent was primarily a single-producer infrastructure business.

Silver Hill subsequently expanded the system into a third-party midstream operation serving both its own production and nearby operators, according to Bing News.

Founded in 2011, Silver Hill has raised approximately $4.2 billion in institutional equity capital across five partnerships. Its energy investments have included operated oil and gas assets and infrastructure businesses, according to Bing News.

The rig data showed no day-over-day drilling expansion on Thursday, while the midstream acquisition added natural gas infrastructure serving Williams, Burke and Mountrail counties.