97 active rigs in North Dakota today. This sets a new record high for the current oil boom that began in North Dakota in 2006.
Yesterday, NDIC reported 95 active rigs, which tied the previous record: here is what I posted yesterday about that announcement.
Update, February 26, 2010: for the past couple of days, the NDIC reports that there are 96 active rigs in North Dakota, one less than the "97" reported above (first posted February 23, 2010). The number of active rigs will fluctuate up and down by two or three on any given day. Rigs are not considered active when they are being moved from site to site. For all I know there could be four more rigs moving in and rigging up (MIRU) as "we speak," and we could see a pop to 100 next week. More likely, however, we will see the numbers fluctuate up and down by one or two rigs going forward. February 26, 2010.
nice post
ReplyDeleteThank you for stopping by. The jump from 90 to 97 happened pretty quickly. It will be interesting to see if we hit 100 active rigs in 2010 as some have predicted.
ReplyDeleteComparing current number of rigs to past history of rigs is somewhat like comparing apples to oranges. In the old days, it took 30 - 45 days to drill a well; now they are taking 16 - 30 days. (Note: that does not necessarily mean a well is "complete" within 30 days; once it is drilled, it still needs to be fracked in most cases which can add days to weeks depending on when the fracking starts and how many stages they do.
At least that's my understanding.