Oil Prices Surge, Bakken Rig Count Holds Steady at 27
Strong crude pricing provides a supportive backdrop for Bakken production, though operator drilling activity remains cautious.
Oil prices posted sharp gains Wednesday, with the benchmark WTI crude closing above $91 per barrel, providing a supportive revenue environment for Bakken producers. West Texas Intermediate settled at $91.72, a gain of $3.52 or nearly 4%, according to live Bakken Wire data. The international Brent benchmark followed suit, rising to $94.54.
Despite the strong price signal, drilling activity in North Dakota's core oil region remained at a restrained level. The active rig count in the state held steady at 27. This figure represents the number of drilling rigs actively seeking new oil and gas wells.
Historically, the rig count is a leading indicator of future production, as new wells must be drilled and completed to offset the steep initial decline rates of Bakken shale wells. The current count of 27 rigs suggests operators are maintaining a measured pace of development. At this level of activity, the near-term outlook for Bakken production is likely one of stability rather than significant growth, barring a sharp increase in drilling efficiency or well productivity.
The Bakken crude price differential, which reflects the discount or premium for Bakken crude priced at the Clearbrook, Minnesota hub compared to WTI at Cushing, Oklahoma, was recorded at -$3.42. This means Bakken crude traded at a discount of $3.42 per barrel below the WTI benchmark price on Wednesday. A narrower differential improves the netback price for producers in the region.
Natural gas prices, a secondary revenue stream for many Bakken wells, were quoted at $3.18 per MMBtu.
The combination of robust crude prices and a stable, though modest, rig count paints a picture of disciplined operator activity. Companies appear focused on capital discipline and shareholder returns, prioritizing free cash flow over aggressive production growth. The current price environment, if sustained, provides healthy margins but has not yet triggered a significant uptick in drilling activity as measured by the rig count.
Source
Live Bakken Wire data for June 10, 2026
