Sunday, September 20, 2026

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☀️Morning Wire7:00 AM CST

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Oil Prices

Oil Prices Dip Amid LNG Supply Scramble, Bakken Discount Widens

Oil prices retreated in early trading Sunday, with West Texas Intermediate (WTI) crude falling 1.18% to $96.08 per barrel. Brent crude also declined, down 0.64% to $99.29. The price for Bakken crude at the wellhead was trading at a $3.42 discount to WTI, according to live market data. The dip in crude prices comes against a backdrop of intense volatility in global energy markets, particularly for natural gas. According to a report from OilPrice.com, liquefied natural gas (LNG) spot prices have surged 150% since February, triggering a bidding war between Europe and Asia for scarce cargoes. European buyers are aggressively outbidding Asian importers to secure supply for winter, with LNG imports on track to hit a record high this year. The global gas crisis is being driven by a severe supply shortfall. Qatar’s LNG export hub remains largely closed, creating an estimated annual supply loss of 12.8 million tons. While...

☀️Morning Wire·Sep 20

Rig Report

North Dakota Rig Count Holds at 32 for Second Consecutive Day

North Dakota's active drilling rig count remained unchanged at 32 on Sunday, September 20, 2026, according to live rig data from Bakken Wire. The data showed no new rigs added, no rigs removed, and no rigs moving location since the previous day. The current count of 32 rigs represents a decrease of two from the total of 34 active rigs recorded one week ago, on September 13. Compared to the level seen one month ago, on August 21, the rig count is also down by two, having held at 34 at that time. The stability in the daily count, coupled with the slight two-rig decline over the past month, suggests a period of consolidation for operators in the Williston Basin. After a period of gradual increases earlier in the year, activity levels have settled into a range that reflects current commodity prices, capital discipline, and the focus on developing high-graded...

☀️Morning Wire·Sep 20

Daily Activity

No New Activity Reported in Saturday's DMR Daily Filing

The North Dakota Department of Mineral Resources (DMR) published no new regulatory activity in its daily report for Saturday, September 19, 2026. The report, which tracks key regulatory filings from the previous day, contained no new entries for permits, spud notices, well completions, or well plugging records. The daily activity report is a standard snapshot of administrative progress for oil and gas operations in the state. It typically lists new drilling permits approved by the state, notifications that a rig has spudded (begun drilling) a new well, reports of wells that have been completed and are ready for production, and official records of wells that have been permanently plugged. Days with no reported activity are common and expected, particularly on weekends and during state holidays. The lack of filings reflects the standard administrative and field operation schedules within the industry. The next report, covering activity from Sunday, will be issued...

☀️Morning Wire·Sep 20

Global Markets

Global Market Shifts Signal Mixed Outlook for Bakken Crude

Oil prices fell for a third consecutive session through Friday, September 18, as fears over Saudi Arabian supply disruptions eased, according to a report from Rigzone. This price pressure, driven by global sentiment, directly impacts the revenue calculus for Bakken shale operators in North Dakota, where breakeven economics are tightly linked to the prevailing benchmark crude prices. In a separate development with long-term implications for North American energy trade, Sempra Infrastructure has signed a 20-year agreement to supply liquefied natural gas to Brazil's Petrobras from the Port Arthur LNG Phase 2 project in Texas, Rigzone reported. While this specific deal involves Gulf Coast LNG, it underscores the growing global demand for U.S. hydrocarbons, which supports the broader market for domestic natural gas and associated gas produced in the Bakken. Further complicating the international trade landscape, the U.S. House of Representatives passed a bill granting the president new authority to impose...

☀️Morning Wire·Sep 20

🔆Midday Wire11:00 AM CST

The Midday Take

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Oil Prices

Oil Prices Slip as WTI Falls Below $97, Bakken Differential Holds at -$3.42

Front-month WTI crude oil futures traded at $96.08 per barrel midday Sunday, September 20, a decline of $1.15 or 1.18% from the prior settlement. The global benchmark Brent crude followed suit, trading at $99.29, down $0.64 or 0.64%. Natural gas prices edged higher, adding $0.01 to reach $2.91 per MMBtu. The price decline for crude comes amid a typical quieter weekend trading session and follows a volatile week influenced by macroeconomic signals and inventory data. The retreat pushes WTI back below the psychologically significant $97 level. The price move represents a pullback from recent gains. For Bakken producers, the key local pricing benchmark, the Bakken differential, was recorded at -$3.42 versus WTI. This means Bakken crude at the wellhead is priced approximately $92.66 per barrel, factoring in the discount. A stable differential in this range is a critical component for operator economics, affecting cash flow and drilling decisions across the...

🔆Midday Wire·Sep 20

Operator News

South Africa Seeks LNG Terminal Operator; Exxon Highlights Coal Emissions

Transnet National Ports Authority is seeking an operator to build a small to medium liquefied natural gas receiving terminal at the Port of East London in South Africa, according to Rigzone. The authority has opened applications for the project in Eastern Cape province, the source reported on September 18. Separately, ExxonMobil has warned that coal use is accelerating global warming, Rigzone reported the same day. The oil explorer stated that its forecasts are grounded in scientific and economic data accounting for realistic changes in government policies and consumer behavior. For Bakken operators, these developments highlight two interconnected market forces. The pursuit of new LNG import infrastructure in South Africa points to growing global demand for natural gas as a potential transition fuel, which could influence long-term export opportunities for U.S. producers, including those in the Bakken. While the Williston Basin is not a major LNG exporter, global gas demand trends...

🔆Midday Wire·Sep 20

Pipeline & Infrastructure

Standing Rock Leaders Reflect on Dakota Access Pipeline Protests a Decade Later

Standing Rock Sioux tribal leaders reflected on the legacy of the Dakota Access Pipeline protests at a renewable energy event this week, stating the demonstrations awoke the world even as oil continues to flow through the contested infrastructure. The remarks were made at the first People of the Sun event, hosted by the nonprofit Indigenized Energy at the Prairie Knights Casino on the Standing Rock Reservation on Thursday, September 17, 2026. “The oil is still flowing. The pipeline hasn’t been shut down, but there’s something really powerful that has happened, even more powerful than that, is of course the world has been awoken,” Nola Taken Alive, Standing Rock Sioux Tribal Council representative-at-large, told the audience, according to the North Dakota Monitor. The event included reflections on the demonstrations that began a decade ago, in 2016 and 2017. Thousands of people gathered in southern North Dakota during those years to protest...

🔆Midday Wire·Sep 20

Regulatory

European Commission Approves $145M in Grants for Cross-Border Energy Projects

The European Commission has approved approximately $145 million in grants for three cross-border renewable energy projects, according to a report from Rigzone. The funding, from the Connecting Europe Facility, will support two climate-neutral German-Polish district heating projects and an onshore wind park near the Latvia-Lithuania border. This regulatory and funding decision highlights the continued policy momentum within the European Union to diversify energy supplies and meet climate targets. For Bakken operators, such developments reinforce a long-term strategic reality: key export markets are actively investing in infrastructure to reduce reliance on fossil fuels, including imported crude oil and natural gas. The approval of grants for district heating networks and wind power generation is part of a broader EU strategy to enhance energy security and independence. While North Dakota's oil production remains a crucial part of the global energy mix, sustained investment in European energy infrastructure signals a gradual, policy-driven shift in...

🔆Midday Wire·Sep 20

🌅Afternoon Wire4:00 PM CST

Oil Prices

Oil Prices Hold Steady Amid Market Uncertainty

Oil prices were unchanged in Sunday trading, with key benchmarks holding near recent highs as markets assessed a complex balance of supply and demand signals. West Texas Intermediate (WTI) crude was flat at $96.08 per barrel, according to live price data. The international benchmark Brent crude also showed no movement, holding at $99.29 per barrel. Natural gas prices were similarly static at $2.91 per MMBtu. For producers in North Dakota's Bakken formation, the price for their crude showed a slight improvement relative to the U.S. benchmark. The Bakken differential to WTI was reported at -$3.42 per barrel, meaning Bakken crude is priced at a discount of $3.42 below the WTI price. The lack of price movement on a Sunday reflects typically thin trading volumes and an absence of major market-moving news. However, the stability at elevated price levels underscores a market that has found a tentative equilibrium. Prices remain supported...

🌅Afternoon Wire·Sep 20

Rig Report

North Dakota Rig Count Holds at 32 for Sunday

North Dakota's active drilling rig count remained unchanged at 32 on Sunday, September 20, 2026, according to live rig data from Bakken Wire. The data showed no new rigs added, none removed, and no rigs that moved location since the previous day. The current figure represents a decline from recent historical activity. The rig count is down by two from the 34 rigs reported exactly one week ago, on September 13. It is also down two rigs from the 34 active rigs reported one month ago on August 21. The stability in the daily count comes amid a period of modest contraction for the state's drilling fleet. The Bakken formation, North Dakota's primary oil-producing region, has historically seen rig counts fluctuate with commodity prices, operational efficiency gains, and corporate capital spending plans. A rig count in the low 30s reflects a mature phase of development for the play, where operators...

🌅Afternoon Wire·Sep 20

Global Markets

Global Coal Demand Hits Record as Hormuz Crisis Boosts Bakken Oil Appeal

Global energy market disruptions caused by the closure of the Strait of Hormuz are pushing coal demand to a record high, a dynamic that indirectly supports demand for Bakken crude oil, according to a new International Energy Agency (IEA) report. The IEA predicted global coal consumption will rise 1.2% in 2026 to a record 8.94 billion metric tonnes, driven by countries turning to coal to fill gaps left by constrained oil and gas trade. The IEA stated that "tighter natural gas supply has pushed up prices, prompting some electricity systems to switch from gas to coal." According to the agency, the conflict and trade restrictions have driven up oil and gas prices in recent months, leading to severe global energy disruptions. Countries including Japan, India, China, and some in Europe have increased coal use for power and, in China's case, for chemical production due to high oil prices. While coal...

🌅Afternoon Wire·Sep 20