The high of 143 active rigs was set some weeks ago but has since slowly declined to 134 today. It's great weather, road restrictions have been lifted, and new companies keep moving in. I assume that some of these rigs are moving across the border to Montana. While touring the Bakken last week someone noted that there were seven rigs just across the state line. That would account for much of the delta between 143 and 134. After a couple years of little activity in eastern Montana Bakken, the drillers are going back in. They are going back to where they were a few years ago, plus they are exploring new areas just west of Williston.
But I wonder if there might be something else going on to account for the drop in active rigs. It seems a bit more than I would have expected.
I'm not the only one wondering?
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Update, August 27, 2010: never mind. We're back up to 140 today.
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