U.S. Rig Count Climbs for Fifth Week; APA, ICE Ink Energy Deals

The U.S. oil and gas rig count rose for a fifth consecutive week, jumping by seven to a total of 558, according to a Baker Hughes report cited by Bing News. This is the highest count since June 2025. Notably, oil-directed rigs alone increased by 10, marking the largest single-week gain in four years.

For Bakken operators, a rising national rig count is a key indicator of industry sentiment and investment. Increased drilling activity elsewhere can influence service costs and labor availability in the North Dakota basin, even if the count is not region-specific.

In other developments, engineering firm Worley has secured a three-year exclusive partnership with APA Corporation. According to Rigzone, Worley will support APA's infrastructure development program aimed at reducing operational constraints and improving system flexibility. Such long-term engineering contracts often focus on optimizing existing assets and supporting production growth in key regions.

Meanwhile, new financial instruments tied to oil are entering the market. Intercontinental Exchange Inc., owner of the New York Stock Exchange, is partnering with digital asset exchange OKX to launch perpetual futures contracts for oil, Rigzone reported. These are futures contracts that never expire. While primarily a financial development, the introduction of new trading products reflects ongoing institutional interest in oil markets and can influence price discovery mechanisms relevant to Bakken producers.

The combination of rising physical drilling activity, new long-term service agreements, and evolving financial market products points to a period of strategic investment and optimization across the energy sector. Bakken operators will be watching these trends for their impact on the competitive landscape and operating environment.