Active Rigs at 154 (Two Below Record) -- Bakken, North Dakota, USA

For those concerned that things are quiet in the Bakken, note that the number of active oil rigs in North Dakota has risen back to 154, just two short of the all-time record. It should be noted that some rigs have been moved to the Montana site of the Bakken over the past few months.

The price of oil for West Texas Intermediate (WTI) remains near $87/barrel. Some folks tell me that their royalty checks suggest ND Bakken oil is selling for just under $80/barrel. If true, that is quite impressive. Those could be hedged contract prices and may not be related to the spot price of Bakken oil.