The rig count is slowly increasing. Not a dramatic increase and nothing like the high point, but a noticeable change from the mid-20s in the spring and the 30s during the summer and fall.
By the way, this explains the slight change in employment in Williston mentioned in the previous post.
Here is a recap of the North Dakota rig count, all from Million Dollar Way, other than during my trip to Williston in November 2016.
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. Some older data repeated for context:
- 183 – 12/31/12
- 184 – 2/4/13
- 191 – 11/29/13
- 187 – 12/31/13
- 190 – 2/4/14 (up 6)
- 183 – 11/29/14
- 170 – 12/31/14
- 140 – 2/4/15 (down 50)
- 64 – 11/29/15
- 61 – 12/31/15
- 38 – 2/25/16 (down 102)
- 25 – 4/26
- 27 – 6/22
- 35 – 7/28
- 34 – 8/5
- 34 – 8/12
- 31 – 8/26
- 32 – 9/16
- 33 – 9/30
- 37 – 11/4
- 39 – 11/8
- 38 – 11/10
- 38 – 11/22 – during my visit to Williston, from Williston Herald
- 36 – 11/23
- 37 – 11/25 – end of my visit to Williston
- 40 – 11/29 – baseline from day before OPEC agreement
- 39 – 11/30 – day of OPEC agreement
- 39 – 12/1
- 40 – 12/8
- 41 – 12/21
- 42 – 12/22 – not a huge change, but definitely an upward trend
- 39 – 12/31/16
- 39 – 1/3/17