Search Bakken Wire
Showing 30 of 223 results for “” — narrow the date range or category to see the rest
Bakken Rig Count Holds at 34 as Oil Prices Offer Support
North Dakota's active drilling rig count held steady at 34 this week, according to live Bakken Wire data. The stability in drilling activity comes as benchmark oil prices provide a supportive, if volatile, environment for operators. West Texas Intermediate (WTI) crude was trading at $86.85 per barrel on Friday, a marginal increase of two cents. The international Brent benchmark saw a stronger gain, rising 0.55% to $94.30. Bakken crude traded at a discount of $3.42 per barrel to WTI. Natural gas prices were reported at $2.80. The current rig count of 34 serves as a key indicator of near-term production trends. Historically, the number of active rigs in the Williston Basin is a leading indicator, with changes in the count typically foreshadowing production increases or declines several months later. The current level, while stable, remains significantly lower than the boom-era peaks of over 200 rigs and even pre-pandemic levels. Analysts...
North Dakota Rig Count Holds at 34 as Oil Prices Rally
North Dakota's active drilling rig count held steady at 34 on Thursday, as the Bakken's key crude benchmarks posted strong gains, according to Bakken Wire live data. West Texas Intermediate (WTI) crude settled at $86.48, up $2.09 or 2.48% for the day, while the international Brent benchmark rose to $93.39. The Bakken oil price differential, the discount at which local crude trades versus WTI, was recorded at -$3.42 per barrel. Natural gas prices were reported at $2.77 per MMBtu. The current rig count, a leading indicator of future drilling and completion activity, has remained in a narrow range in recent months. Historically, the number of active rigs in the Williston Basin is closely correlated with oil prices and operator capital budgets. A stable rig count at current elevated price levels typically signals a maintained pace of development rather than rapid expansion. Industry analysts note that a rig count in the...
Bakken Rig Count Holds at 33 as Oil Prices Surge Above $86
North Dakota's active drilling rig count held steady at 33 on Thursday, August 20, 2026, according to live Bakken Wire data. This figure persists as benchmark oil prices posted strong gains, with WTI crude trading at $86.46 per barrel, a daily increase of $2.07. The current rig count remains near multi-year lows for the Bakken formation. Historically, the number of active drilling rigs is a leading indicator of future oil production, as new wells must be drilled and completed to offset the steep decline rates typical of shale basins. The sustained low count suggests operators are maintaining capital discipline despite favorable prices. The day's price action saw Brent crude reach $93.57, while Bakken crude traded at a discount of $3.42 per barrel to the WTI benchmark. Natural gas prices were reported at $2.73 per MMBtu. The significant premium of Brent over WTI can influence export economics for Bakken producers. Analysts...
Bakken Rig Count Holds at 33 as Oil Prices Surge Past $87
North Dakota's Bakken formation showed signs of potential operational stability as the state's active rig count held at 33 on Thursday, August 20, 2026, against a backdrop of sharply higher crude oil prices. West Texas Intermediate (WTI) crude surged to $87.14 per barrel, a gain of $2.75, while the global Brent benchmark traded at $94.28. The Bakken crude price differential—the discount at which local oil sells compared to the WTI benchmark—was recorded at $-3.42. This relatively narrow discount improves the netback for Bakken producers, making local production more competitive. Natural gas prices were reported at $2.75 per MMBtu. The current rig count of 33, while unchanged in the latest data, remains near the lowest levels seen in the modern Bakken era, far below the peak of over 200 rigs running concurrently prior to the 2014 price crash. Historically, the rig count is a leading indicator of future oil production, with...
Bakken Rig Count Holds at 33 as Oil Prices Support Steady Activity
North Dakota's Bakken formation is operating with 33 active drilling rigs as of Wednesday, a level that suggests operators are maintaining steady development activity amid supportive crude oil prices. West Texas Intermediate (WTI) crude was trading at $84.25 per barrel, while the international Brent benchmark stood at $91.46. The current rig count is a critical leading indicator for future oil production in the state. Historically, the number of active rigs in North Dakota has shown a strong correlation with production volumes approximately six to twelve months later. The count of 33 rigs, sustained in recent reporting periods, points to a stabilized production floor rather than a phase of rapid expansion. The pricing environment provides a key backdrop for this activity. With WTI sustaining a price above $80 per barrel, Bakken operators generally have the revenue needed to fund ongoing drilling and completion programs. The Bakken differential—the discount at which Bakken...
Bakken Rigs Hold at 34 as Oil Prices Rally Above $85
North Dakota's active rig count held at 34 on Wednesday, a key indicator of near-term drilling activity in the Bakken formation. The figure comes alongside a significant rally in oil prices, with West Texas Intermediate (WTI) crude trading at $85.38 per barrel, up $1.32 or 1.57% on the day. The current rig level remains near the lower end of its historical range for the basin. Historically, the rig count is a leading indicator for future oil production, with changes typically impacting output volumes several months later. A sustained rig count suggests operators are maintaining a consistent, albeit cautious, level of development activity. Supporting the operational environment is a strong price for Bakken crude. The local price benchmark, calculated as WTI plus the differential, stood at approximately $81.96 per barrel given the current Bakken differential of -$3.42 versus WTI. The global Brent crude benchmark was even stronger at $92.34, also up...
Bakken Rig Count Holds at 34 as Oil Prices Support Activity
North Dakota's active drilling rig count held at 34 on Tuesday, a level that suggests a continued steady pace of development in the Bakken formation. The stability in drilling activity comes as benchmark oil prices provide supportive economics for producers. West Texas Intermediate (WTI) crude was trading at $84.48 per barrel, up 0.88% on the day, according to live Bakken Wire data. The international benchmark Brent crude was at $91.33. The Bakken crude differential—the discount at which local crude trades against WTI—stood at -$3.42. Historically, the number of active drilling rigs serves as a leading indicator for future oil production in a basin. A sustained rig count in the mid-30s typically points to a maintenance level of activity, where operators are drilling enough new wells to offset natural production declines from existing wells. This helps keep overall output from the state relatively stable. The current price environment appears sufficient to...
Bakken Rig Count Holds at 33 as Oil Prices Support Steady Activity
North Dakota's active rig count held steady at 33 on Tuesday, as supportive oil prices provided a foundation for sustained operator activity in the Bakken formation. The current pace of drilling suggests near-term production levels are likely to remain stable. West Texas Intermediate (WTI) crude traded at $84.53 per barrel midday Tuesday, a gain of 79 cents. The international benchmark Brent crude was at $91.51. The Bakken crude differential, the discount at which local crude trades versus WTI, stood at -$3.42, according to live market data. The rig count is a closely watched leading indicator for future oil production. Historically, a sustained increase in the number of active drilling rigs correlates with rising output several months later, as new wells are completed and brought online. Conversely, a declining rig count typically foreshadows a production downturn. The current count of 33 rigs represents a level of activity that, if maintained, should...
North Dakota Rig Count Holds at 32 as Oil Prices Provide Modest Support
North Dakota's active rig count held steady at 32 on Monday, August 17, as crude oil prices posted modest gains, providing a stable but constrained backdrop for Bakken production. West Texas Intermediate (WTI) crude traded at $82.65 per barrel, up 0.3%, while the global Brent benchmark rose to $88.93, according to live Bakken Wire data. The current rig level, a direct indicator of near-term drilling activity, suggests operators are maintaining a cautious pace of development. Historically, the rig count serves as a leading indicator for future oil production, with changes typically impacting output volumes several months later. A steady count implies production is likely to plateau or see only marginal changes in the coming quarters, absent significant efficiency gains or price shifts. The Bakken crude differential—the discount at which Bakken oil trades compared to WTI—was recorded at -$3.42 per barrel. This pricing, combined with the WTI price above $82, provides...
Bakken Rig Count Holds at 32 as Oil Prices Gain
North Dakota's active drilling rig count held at 32 on Sunday, as strengthening global oil prices provided a supportive backdrop for Bakken operators. The state's primary production indicator has remained in a narrow range in recent weeks, suggesting a measured pace of development. West Texas Intermediate crude traded at $82.40 per barrel, up $1.15 or 1.42% on the day. The international benchmark Brent crude rose to $88.52, a gain of $1.45. The Bakken crude differential, the discount at which local oil trades compared to WTI, was $-3.42. Natural gas prices were at $2.73 per MMBtu. The current rig count, a leading indicator of future oil output, points to a period of production stability. Historically, changes in the number of active rigs precede changes in production volumes by several months. A steady count typically suggests operators are maintaining, but not aggressively expanding, their drilling programs. With oil prices comfortably above $80...
Bakken Rig Count Holds at 31 as Oil Prices Firm
The active drilling rig count in North Dakota's Bakken formation held steady at 31 on Friday, according to live Bakken Wire data. The count provides a snapshot of current operator investment in new wells as the industry navigates a period of firming crude prices. West Texas Intermediate (WTI) crude traded at $81.62 per barrel on Friday, a gain of $0.37. The international Brent benchmark was at $87.77. Bakken crude traded at a discount of $3.42 to WTI. The current price environment, with WTI above $80, is generally considered supportive for Bakken drilling economics. The rig count is a leading indicator for future oil production, as new wells must be drilled and completed to offset the steep natural decline rates of existing shale wells. Historically, a sustained increase in the rig count precedes a rise in overall output several months later, while a falling count signals an impending production decline. The...
Bakken Drilling Economics Favorable at $81 Oil
Oil prices above $80 per barrel are creating a constructive economic environment for drilling new wells in North Dakota's Bakken formation, according to industry analysis. West Texas Intermediate (WTI) crude was trading at $81.51 on Friday, up $0.26 from the previous close. The economic viability of a new Bakken well hinges on its estimated ultimate recovery (EUR) and the prevailing price of oil. Typical development costs for a modern Bakken well are estimated at $7 to $8 million. For an average well with an EUR of approximately 750,000 barrels of oil equivalent, current pricing provides a solid margin. At $81.51 WTI, the gross revenue from a 750,000-barrel well would be roughly $61.1 million, before royalties, operating expenses, and taxes. This revenue potential significantly exceeds the initial drilling and completion investment, suggesting robust internal rates of return for operators. The positive price environment helps offset the high upfront capital required for...
Bakken Activity Holds at 31 Rigs Amid Oil Price Retreat
North Dakota's active drilling rig count held at 31 on Thursday, a level signaling sustained but measured activity in the Bakken formation. The count comes as benchmark oil prices retreated, with West Texas Intermediate crude trading at $81.20 per barrel, down $2.07 for the day, according to live Bakken Wire data. The current rig level is a key indicator for future production. Historically, the number of active drilling rigs has a direct, lagged correlation with oil output, as new wells take months to drill, complete, and bring online. A stable rig count suggests operators are maintaining a consistent pace of new well development to offset the steep natural decline rates of existing Bakken wells. However, the day's price movement introduces a note of caution. Brent crude also fell, trading at $87.00, while the Bakken crude differential—the discount at which local crude trades versus WTI—stood at -$3.42. Lower headline prices, if...
Bakken Rig Count Holds at 30 as Oil Prices Retreat from Highs
North Dakota's active rig count held steady at 30 on Thursday, as crude oil prices pulled back from recent multi-month highs. The stability in drilling activity suggests operators are maintaining, but not aggressively expanding, their current level of development work in the Bakken formation. West Texas Intermediate (WTI) crude traded at $82.64 per barrel, down 0.76% on the day, while the international Brent benchmark was at $88.40. The price for Bakken crude at the wellhead is effectively lower, with the Bakken differential to WTI reported at -$3.42. Natural gas prices remained weak at $2.75 per MMBtu. The current rig count of 30 provides a key indicator for near-term production trends. Historically, the number of active drilling rigs is a leading indicator for future oil output, with a lag of several months between a rig commencing drilling and new production coming online. A steady count typically points to a stabilization or...
Bakken Well Economics Tested as WTI Drops Below $82
The economics of drilling new wells in North Dakota's Bakken formation face a fresh test as West Texas Intermediate crude prices fell to $81.61 on Thursday, according to live market data. The $1.66 daily drop brings the primary pricing benchmark for Bakken crude below a key threshold as operators evaluate new projects. A typical new Bakken well costs between $7 million and $8 million to drill and complete, according to industry estimates. These wells generally target an estimated ultimate recovery (EUR) in the range of 500,000 to 750,000 barrels of oil equivalent over their lifespan. At the current WTI price of approximately $81.61, the before-tax net present value of a new Bakken well is significantly pressured. While prices remain above the breakeven levels for many core acreage positions, the recent dip narrows the margin for error on new capital commitments. Brent Crude, a global benchmark, was trading higher at $87.37,...
North Dakota Rig Count Holds at 29 as Oil Prices Stabilize
North Dakota's active drilling rig count held steady at 29 on Wednesday, a key indicator that Bakken production is likely to stabilize near current levels in the coming months. The count, a direct measure of new well development, has remained in a tight range through the summer, according to live Bakken Wire data. West Texas Intermediate crude was trading at $83.12 per barrel, down a modest $0.08 on the day. The international benchmark Brent crude was at $88.64. The Bakken crude differential—the discount at which local crude trades versus WTI—was $3.42. Natural gas prices were reported at $2.80 per MMBtu. Historically, the rig count is a leading indicator for future oil production, with a lag of several months between drilling activity and peak output from new wells. The current count of 29 rigs is significantly below the boom-era highs but represents a level that has supported a sustained production plateau...
Bakken Rig Count Holds at 29 as Oil Prices Rise Above $83
North Dakota's active drilling rig count held steady at 29 on Tuesday, August 11, 2026, according to live Bakken Wire data. The stability in the rig count comes alongside a notable rise in benchmark oil prices, with WTI crude gaining $1.33 to settle at $83.46 per barrel. The current rig level represents a fraction of the over 200 rigs that were routinely active in the Bakken during the region's peak drilling years over a decade ago. Historically, the rig count is a leading indicator for future oil production, as new wells must be drilled and completed to offset the steep natural decline rates of existing shale wells. The Bakken crude price differential narrowed slightly to a discount of $3.42 per barrel versus WTI. Meanwhile, Brent crude rose to $89.20. The strength in global oil markets provides a favorable price environment for Bakken operators, though the sustained low rig count suggests...
North Dakota Rig Count Holds at 29 as Oil Prices Support Bakken Activity
North Dakota's active drilling rig count held steady at 29 on Tuesday, as firm oil prices provided a supportive backdrop for Bakken Shale operators. West Texas Intermediate crude was trading at $83.06 per barrel, a gain of $0.93, while the international Brent benchmark stood at $88.59. The current rig level reflects a sustained period of disciplined capital investment by producers in the Williston Basin. Historically, the rig count serves as a leading indicator for future oil production, with a typical six-to-nine month lag between drilling activity and new wells contributing to output. The count has remained range-bound between the high 20s and low 30s for several months. The Bakken crude differential—the discount at which Bakken oil trades versus WTI at the Cushing, Oklahoma hub—was reported at -$3.42 per barrel. This narrower differential improves netbacks for producers marketing their crude. Analysts note that at current price levels, many Bakken wells remain...
Geopolitical Tensions Over Hormuz Could Support Bakken Oil Prices
President Donald Trump signaled on Monday that his administration is prepared to let economic pressure on Iran build rather than launch immediate new military strikes to force a reopening of the Strait of Hormuz, according to a report from Rigzone. The strategic waterway is a critical chokepoint for global seaborne oil trade. While the report did not specify new sanctions or policy details, the stance suggests a continuation of geopolitical tensions that have periodically roiled oil markets. Any sustained threat to the free flow of oil through the Strait of Hormuz typically places a risk premium on global crude benchmarks, including the West Texas Intermediate (WTI) price that Bakken crude is closely tied to. For Bakken operators in North Dakota, a stable or rising WTI price environment is crucial for maintaining drilling economics and production levels. The Bakken formation is a major contributor to U.S. domestic supply, and its output...
Murphy Oil Profit Soars Nearly Sixfold in Q2 2026
Murphy Oil reported a sharp increase in second-quarter profit, driven by high oil prices that compensated for lower overall production and weaker natural gas prices. According to Rigzone, the company posted $225.8 million in net income adjusted for nonrecurring items for the quarter. This figure is nearly six times the profit from the same period last year. The results highlight a continuing trend in the Bakken formation, where operators' financial health is heavily influenced by the global crude oil market. While specific Bakken production figures for Murphy were not disclosed in the summary, the overall dynamic of strong oil prices bolstering earnings is a positive signal for the region's active drillers and royalty owners. For Bakken-focused companies, such quarterly reports are a key indicator of cash flow available for reinvestment into drilling programs, debt reduction, or shareholder returns. The ability of high commodity prices to offset production declines underscores the...
Bakken Rig Count Holds at 29 as Oil Prices Rise
North Dakota's oil industry is maintaining a measured pace of drilling activity, with the active rig count holding at 29 as of midday Friday, August 7, according to live Bakken Wire data. This level of activity continues a multi-year trend of a significantly contracted drilling fleet compared to the boom-era highs. The steady rig count unfolds against a backdrop of rising crude prices. West Texas Intermediate (WTI) crude was trading at $78.38 per barrel, a gain of $1.09 or 1.41% on the day. The international Brent crude benchmark was at $83.73, up $1.24. The price for Bakken crude at the wellhead is typically discounted against WTI; the current Bakken differential is -$3.42 per barrel. Natural gas prices were reported at $2.67 per MMBtu. Historically, the number of active drilling rigs is a leading indicator for future oil production in the Bakken formation, North Dakota's primary oil-producing region. It typically takes...
Bakken Rig Count Holds at 29 as Oil Prices Retreat
North Dakota's active drilling rig count held steady at 29 this week, a key indicator of stable but restrained operator activity in the Bakken formation. The count comes as crude oil prices saw a modest pullback, with WTI trading at $76.65 per barrel and Brent at $81.78, according to live Bakken Wire data. The current rig level suggests producers are maintaining a disciplined capital approach. Historically, the rig count is a leading indicator for future oil production, with a typical six-month lag between drilling activity and sustained output. The current count of 29 rigs is significantly below the boom-era highs but represents a plateau that has supported the state's production at roughly 1.2 million barrels per day in recent months. The price environment remains a primary driver for any potential activity shifts. West Texas Intermediate (WTI) crude fell 64 cents to $76.65 in the latest session, while the global Brent...
Bakken Rig Count Holds at 29 as Oil Prices Surge
North Dakota's active drilling rig count remained at 29 this week, according to live Bakken Wire data, as a sharp rally in crude oil prices provided a potential tailwind for Bakken operators. West Texas Intermediate crude surged 4.16% to settle at $78.35 per barrel, while the global Brent benchmark rose 5.35% to $83.70. The stable rig count, a leading indicator of future production, suggests a near-term cap on the pace of new well development. Historically, the number of active rigs in the Bakken formation correlates closely with oil production levels roughly six to twelve months later, as new wells are drilled, completed, and brought online. The current differential for Bakken crude, the discount at which it trades compared to WTI, was reported at -$3.42 per barrel. This differential impacts the netback price received by Bakken producers. With WTI at $78.35, the implied Bakken wellhead price is approximately $74.93. Natural gas...
Bakken Rig Count Holds at 30 as Oil Prices Surge
North Dakota's active drilling rig count held steady at 30 on Thursday as global oil prices posted significant gains, according to live Bakken Wire data. West Texas Intermediate (WTI) crude surged $2.53 to settle at $77.75 per barrel, a 3.36% increase, while the international Brent benchmark rose $3.05 to $82.50. The current rig count of 30 represents the core level of drilling activity sustaining the state's oil output. The Bakken price differential—the discount at which Bakken crude trades against WTI—was recorded at -$3.42. Natural gas prices were reported at $2.65 per million British thermal units (MMBtu). Historically, the number of active drilling rigs is a leading indicator for future oil production, with a typical lag of several months between new well spuds and first oil. The current count of 30 rigs is substantially lower than the peak levels seen in the early 2010s Bakken boom, which regularly exceeded 200 rigs...
Bakken Rig Count Holds at 30 as Oil Prices Retreat
The active drilling rig count in North Dakota held at 30 on Wednesday, a level signaling continued capital discipline among Bakken operators. The stability in rigs comes as crude oil prices saw a modest pullback, with West Texas Intermediate trading at $75.07 per barrel, according to live Bakken Wire data. The current rig count represents a fraction of the historic highs seen during the previous boom cycles. Historically, the rig count is a leading indicator for future oil production, with changes typically impacting output volumes several months later. A sustained count in the low 30s suggests that near-term Bakken production is likely to remain relatively flat. Benchmark pricing showed mixed movements. WTI crude fell 92 cents to settle at $75.07, while the international Brent benchmark saw a minor decrease of five cents to $79.31. The Bakken crude differential—the discount at which local crude trades compared to WTI—was recorded at -$3.42...
Bakken Rig Count Holds at 28 as Oil Prices Show Mixed Signals
North Dakota's oil and gas activity showed signs of stabilization Wednesday, with the state's active rig count holding at 28 units. The figure, a key indicator of future production, has remained at this level for several consecutive reporting periods, according to live Bakken Wire data. The current rig count is sharply lower than the boom-era peaks of over 200 but represents a consolidation after a period of gradual decline earlier in the decade. Historically, the number of active drilling rigs is a leading indicator for oil production, with changes in the count typically impacting output levels several months later. The sustained count of 28 rigs suggests operators are maintaining a careful, capital-disciplined level of development activity. Supporting this steady operational pace are mixed but relatively stable crude oil prices. As of midday Wednesday, West Texas Intermediate (WTI) crude was trading at $75.75 per barrel, down just two cents. The international...
Bakken Rig Count Holds at 28 as Oil Prices Slide Sharply
North Dakota's oil industry is navigating a sharp decline in crude prices while maintaining its current drilling pace, according to live market data. The state's active rig count held steady at 28 on Tuesday, even as West Texas Intermediate (WTI) crude fell $4.95 to settle at $75.39 per barrel. The Bakken oil price differential, the discount at which local crude trades compared to the WTI benchmark, was $3.42. This puts the implied Bakken wellhead price at approximately $71.97. The global Brent crude benchmark also fell sharply, dropping $4.92 to $78.85. Natural gas prices were reported at $2.68 per MMBtu. The stability of the rig count amid a price correction presents a key data point for the North Dakota production outlook. The rig count is a leading indicator of future oil output, as new wells drilled today will typically begin producing several months later. A sustained high count suggests operators are...
Bakken Rig Count Holds at 28 as Oil Prices Slide Sharply
North Dakota's active drilling rig count held steady at 28 for the latest reporting period, according to live Bakken Wire data. The figure underscores a prolonged period of capital discipline by operators even as crude oil prices experienced a significant downturn in Tuesday's trading. West Texas Intermediate (WTI) crude was trading at $75.96 per barrel, down $4.38 or 5.45% for the day. The international Brent benchmark fell to $79.40, a drop of $4.37. The price for Bakken crude at the wellhead is typically discounted against WTI; the current Bakken differential is -$3.42. Natural gas prices were recorded at $2.67 per MMBtu. The current rig count of 28 is near historic lows for the Bakken formation in the modern shale era. The rig count is a leading indicator of future oil production, as it reflects the number of drilling crews actively working to bring new wells online. A sustained low count...
Bakken Rig Count Holds at 28 as Oil Prices Retreat Sharply
North Dakota's oil production faces near-term pressure as a sharp drop in oil prices coincides with a stagnant rig count, according to live market and activity data. The number of active drilling rigs in the state held at 28 on Monday, August 3, while West Texas Intermediate crude prices fell $4.62 to settle at $80.05 per barrel. The current rig count remains near historic lows for the Bakken play, a level that analysts say is insufficient to sustain production growth. The Brent crude benchmark also fell sharply, dropping 5.03% to $83.51. The price for Bakken crude at the wellhead is further discounted, trading at a $3.42 differential below WTI. Historically, the rig count serves as a leading indicator for future oil production, with a lag of several months between drilling activity and new wells coming online. A sustained rig count in the high 20s suggests that operators are maintaining only...
Bakken Rig Count Holds at 27 as Oil Prices Retreat Sharply
North Dakota's active drilling rig count held at 27 on Monday, August 3, as the Bakken's core operators maintained development plans despite a sharp midday decline in oil prices. The stability in the rig count comes as West Texas Intermediate (WTI) crude traded at $79.66 per barrel, down $5.01 or 5.92% for the day, according to live Bakken Wire data. The Brent crude benchmark followed a similar trajectory, trading at $83.76, a drop of $4.17 or 4.74%. The Bakken crude differential—the discount at which Bakken barrels trade compared to WTI—stood at -$3.42. Natural gas prices were recorded at $2.77 per MMBtu. Historically, the active rig count is a leading indicator for future oil production in North Dakota, with a lag of several months between drilling activity and new wells contributing to output. A sustained rig count in the mid-to-high 20s has been associated with maintaining the state's production plateau, which...