HOUSTON, Dec 19 (Reuters) – The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state’s Department of Mineral Resources on Friday.
North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last month.
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Companies have decreased activity owing to end of year budgetary reasons as well as a softer oil price environment,
“In the Williston Basin at this mid $50s price range, where the realized price is probably in the high $40s, this is a point where there is going to be stress on the operators to consider reducing activity,” Anderson said.
Oil production in North Dakota rose 1,000 bpd to 1.169 million bpd in October, the latest monthly data from the state Industrial Commission showed.
North Dakota is the third-largest oil-producing state and home to the Bakken oilfield.
Reporting by Georgina McCartney in Houston; Editing by Chizu Nomiyama
(Adds quote from state regulator in paragraphs 3-4)
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