Friday, September 25, 2026

Jump to Today

Next Day

The Afternoon Take

Energy Market Briefing

Listen

0:00 / 4:07

☀️Morning Wire7:00 AM CST

The Morning Take

Energy Market Briefing

Read Analysis →

Listen

0:00 / 4:22

Oil Prices

Oil Prices Drop Sharply as Supply Concerns Ease

Oil prices fell sharply in Friday morning trading, with West Texas Intermediate (WTI) crude down $2.13 to $92.48 per barrel, a drop of 2.25%. Brent crude declined $1.87 to $98.35, according to live price data. The price for Bakken crude at the wellhead was trading at a discount of $3.42 below the WTI benchmark. The drop follows a session of gains on Thursday, where prices rose on signals of tight global supply, according to Rigzone. That earlier strength was countered by optimism over a potential U.S.-Iran deal to reopen the Strait of Hormuz, a critical global oil transit chokepoint, the outlet reported. Adding downward pressure on prices was fresh U.S. inventory data. The U.S. Energy Information Administration's latest weekly report showed commercial crude oil stocks, excluding the Strategic Petroleum Reserve, rose to 426.39 million barrels for the week ending September 18, Rigzone reported. An increase in inventories typically suggests weaker...

☀️Morning Wire·Sep 25

Rig Report

Bakken Rig Count Holds at 30, Down 7 From August Peak

The number of active drilling rigs in North Dakota's Bakken region held steady at 30 on Friday, September 25, according to live rig data from Bakken Wire. The count showed no change from the previous day, with no new rigs added, no rigs removed, and no rigs moving location. Despite the daily stability, the current fleet represents a notable contraction from recent activity levels. The rig count is down by two from the 32 rigs reported one week ago on September 18. The decline is more pronounced compared to one month ago; the state has seen seven rigs go idle since August 26, when 37 rigs were actively drilling. The sustained drop over the past month signals a cautious approach by operators amid fluctuating commodity prices and capital discipline mandates. A rig count in the low 30s is indicative of a moderated pace of development compared to the higher activity...

☀️Morning Wire·Sep 25

Daily Activity

Continental Resources Leads DMR Activity with Five New Confidential Permits

The North Dakota Department of Mineral Resources approved five new drilling permits in its latest daily activity report, all filed by Continental Resources, Inc. for locations in Williams County. According to the report, the permits are for the Billings 5-16H, Stockton 4-21H, Billings 6-16H, Stockton 5-21H, and Stockton 6-21HSL wells. All five are designated for the 'CONFIDENTIAL' field. The report also listed twelve permit renewals. Four of these were for Zavanna Energy Operating, LLC, for the Beth 4-6 1H through 4H wells in McKenzie County's Glass Bluff field, each noted as a "proposed drillback outside of spacing unit." Four producing well completions were reported, showcasing strong initial flows. Continental Resources reported two high-performing wells in McKenzie County: the Brakken FIU 4-6H flowed 1,111 barrels of oil per day (BOPD) and 2,151 barrels of water per day (BWPD), while the Brakken FIU 5-6HSL flowed 2,107 BOPD and 603 BWPD. Zavanna Energy...

☀️Morning Wire·Sep 25

Operator News

Amplitude Energy Worker Dies Following Shark Attack

Amplitude Energy announced that one of its workers has died following a shark attack, according to a report from Rigzone. The news service reported the company's statement on September 24, 2026. While the specific location of the incident was not detailed in the summary, it underscores the broad range of occupational hazards faced by the global energy industry. The Bakken formation in North Dakota is a major onshore oil-producing region, where primary safety concerns typically involve wellsite operations, transportation, and exposure to the elements. For Bakken operators, the tragic event serves as a somber reminder of the importance of rigorous safety protocols across all company operations, regardless of geography. Many large independent producers active in the Williston Basin also have assets or operations in offshore or coastal regions. The incident reported by Rigzone involves a fatality, which is the most severe safety outcome. In North Dakota, the oil and gas...

☀️Morning Wire·Sep 25

Global Markets

Ukraine Drone Strike Takes Russian Refinery Offline, Tightening Global Fuel Markets

Another Russian oil refinery was forced offline Friday following a Ukrainian drone attack, continuing a campaign that has tightened global fuel markets for months. According to OilPrice.com, the Novoshakhtinsk refinery in southern Russia, with a capacity of 110,000 barrels per day, was damaged and halted operations after being hit by drones. The ongoing strikes are part of Ukraine's strategy to cripple Russian refining capacity, fuel supply, and export revenues. Due to the reduced refinery output, Russia has been forced to maintain a ban on diesel exports, which was initially introduced in July. Russian daily Vedomosti reported last week that the government would extend this ban for all fuel producers to October 31. This Russian export ban, combined with ongoing Middle East tensions, has tightened global middle distillate markets, according to the source. For Bakken operators, global distillate strength is a supportive factor for the region's crude oil, which yields a...

☀️Morning Wire·Sep 25

🔆Midday Wire11:00 AM CST

The Midday Take

Energy Market Briefing

Read Analysis →

Listen

0:00 / 4:45

Oil Prices

Oil Prices Drop Sharply, Bakken Differential Widens to -$3.42

Oil prices fell sharply in midday trading Friday, with West Texas Intermediate (WTI) crude dropping $2.65 to settle at $91.96 per barrel, a decline of 2.8%. Brent crude fell $3.17 to $97.05, according to live price data. The price for Bakken crude at the Clearbrook, Minnesota, hub traded at a discount of $3.42 per barrel versus WTI. The midday sell-off coincides with growing concerns over European fuel demand and refining disruptions. According to a report from OilPrice.com, Italy’s government is summoning refining executives for an emergency meeting on October 8 to discuss boosting diesel and gasoline output as consumer prices soar. The average price of gasoline in Italy has hit the equivalent of nearly $10 per gallon, with diesel prices even higher. The European fuel crisis is being driven by a perfect storm of supply constraints. OilPrice.com reported that refinery capacity is constrained in the Middle East due to Iranian...

🔆Midday Wire·Sep 25

Pipeline & Infrastructure

Commentary Marks 10-Year Anniversary of Dakota Access Pipeline Protests

A commentary marking the 10-year anniversary of the Dakota Access Pipeline (DAPL) protests asserts that the Standing Rock resistance "transformed us" and highlighted "how far North Dakota was willing to go for oil," according to a piece published on Bing News. The opinion column, authored by LaDuke, frames the 2016-2017 protests as a pivotal event with enduring consequences for the state's political and environmental discourse. The commentary states that Water Protectors witnessed "the brutality of Tiger Swan" and "$38 million in repression and violence against unarmed people" during the pipeline standoff. It further claims that North Dakota's judicial institutions have since "relentlessly pursued Water Protectors, with the vigor of the cavalry of a century before." The piece casts North Dakota as a "meth lab" for democracy, alleging its policies have been adopted by the Trump administration, with former Governor Doug Burgum now "systematically dismantling federal land and wildlife protections" as...

🔆Midday Wire·Sep 25

Global Markets

Global Conflicts, Market Pressures Shape Bakken Outlook

The European Union stated its natural gas supply remains stable despite historically low storage levels, according to the European Commission on Friday, September 25. The Commission's Gas Coordination Group, which met this week, cited ongoing stability even as storage sites in the EU were only 70% full as of September 24, according to data from Gas Infrastructure Europe. Germany's storage facilities were reported at just 57% full. This situation stems from choked LNG flows from the Middle East over the past six months due to difficulties transiting the Strait of Hormuz, which has sent Asian and European gas prices to their highest levels since the 2022-2023 energy crisis, OilPrice.com reported. Concurrently, geopolitical tensions continued to simmer as Ukraine said it hit two more Russian oil refineries with strikes on September 25, according to Rigzone. These strikes persist despite recent talks involving the United States, which seeks a halt to targeting...

🔆Midday Wire·Sep 25

🌅Afternoon Wire4:00 PM CST

Oil Prices

Oil, Gas Prices Fall as Supply Outweighs Summer Heat-Driven Demand

Oil prices fell sharply on Friday, with North Dakota's key benchmark losing ground. West Texas Intermediate crude closed at $92.41 per barrel, a drop of $2.20 or 2.33%, according to live price data. Brent crude fell 2.76% to $97.45. The Bakken crude differential narrowed to a discount of $3.42 versus WTI. The price drop comes despite a summer of record heat that boosted electricity demand for air conditioning. According to a report from OilPrice.com, the Lower 48 experienced its hottest July on record, with average temperatures reaching 77°F. This pushed natural gas-fired power generation higher, but failed to significantly lift prices. Natural gas prices followed oil lower, falling $0.13 to $3.24 per MMBtu. The summer average for Henry Hub natural gas was $2.93 from June through August, which was 6% below the same period last year, OilPrice.com reported. Increased renewable energy generation and robust natural gas supply largely offset the...

🌅Afternoon Wire·Sep 25

Rig Report

North Dakota Rig Count Holds at 30 for Third Consecutive Day

North Dakota's active drilling rig count remained unchanged at 30 on Friday, September 25, according to live data from Bakken Wire. No rigs were added, removed, or moved location since the previous day. The current count represents a sustained pullback from recent activity levels. The state's rig fleet is down by two rigs compared to one week ago, when 32 rigs were active on September 18. The decline is more pronounced over the past month, with the count falling by seven rigs from the 37 rigs reported on August 26. The Bakken formation is North Dakota's primary oil-producing region. Rig counts are a closely watched leading indicator of future production and capital expenditure by operators in the Williston Basin. The current level of 30 rigs suggests a period of stabilized but subdued drilling activity as companies manage their development programs. Historical Context of Boom and Turmoil The current operational landscape...

🌅Afternoon Wire·Sep 25