Update on Active Rigs

Update on active rigs.

This information is based on my data and could be incorrect in some places but is pretty close, I think.  Current data is available at the NDIC website.

The record for number of active rigs in North Dakota is 134, reached a few days ago (July 5, 2010, to be exact). Today, there are 133 active rigs in North Dakota.

Of the major operators, compared to when I last looked (June 11, 2010), CLR has gone up another two (2) rigs to stand at 20; EOG remains the same at 13; Whiting has increased by one (1), to 12.

Slawson has had as many as seven (7) rigs; currently it has six.

Most interesting, and perhaps very telling is this: BEXP has remained steady at five (5). BEXP seems to be among the biggest promoters in the Bakken but has not increased the number of its rigs significantly during this boom.

The other drillers remain the same; a few have gone up one or down one but that might be just a temporary phenomenon. One exception: Baytex is now up to three (3) rigs -- up from having none in North Dakota just a few months ago.

Fidelity, a subsidiary of MDU with headquarters in Bismarck, North Dakota, with the Bakken in its very backyard, has only one active rig in North Dakota.

But you don't need rigs to be successful in North Dakota; there are other business models. NOG is one example of a successful company with no rigs.