Here is a recap of the North Dakota rig count. All of the data is from Million Dollar Way. The number of rigs isn’t as important now as it was a year or three ago, but it is still one indicator of activity. One rig today creates a well that produces a lot more oil that a few years ago, and in less time, and at lower cost.
Some older data repeated for context:
- 184 – 2/4/13
- 190 – 2/4/14 (up 6)
- 140 – 2/4/15 (down 50)
- 38 – 2/25/16 (down 102)
- 32 – 3/26
- 25 – 4/26
- 28 – 5/31
- 27 – 6/22/16
- 31 – 7/6
- 31 – 7-20
- 35 – 7/28
- 34 – 8/5
- 34 – 8/12