Monday, December 22, 2014

Active Drilling Rigs Plummet To 171 In North Dakota -- December 22, 2014


4:34 p.m. Pacific Time: at the end of the day, the number of active rigs in North Dakota dropped another three:

Active Rigs171191188196161

Original Post

Active rigs:

Active Rigs174191188196161

Harold Hamm says the number could go to 90. Or something like that.


  1. I'm wondering where the rigs are being pulled from? I did check todays active rig count on the state of North dakota Oil and gas site, and Williams county still has 41 or 42, which is what they usually have give or take a few. I'm guessing Mountrail, Dunn and McKenzie are also maintaining their rigs so far as well. Must be from the fringe counties?

    1. Yes. My hunch is we will see two things. First, all E & P companies will have to manage their CAPEX very, very well, which in many cases, is simply fewer rigs overall, regardless of location.

      Second, we will see a "circling of wagons," as operators move their rigs to their best locations.

      The third thing that will be much more difficult to track is the degree to which operators delay fracking and/or choke back their production. In addition to price issues, they have the new flaring rules and the new "conditioning" rules to contend with.