Bakken Archives - Energy News Beat

Cushing, Oklahoma Oil Storage Hits Tank Bottom: Implications for Energy Markets, Consumers, and Investors

June 17, 2026 Clark Savage337

Cushing, Oklahoma — often called the “Pipeline Crossroads of the World” — is facing critically low crude oil storage levels, with inventories hovering near operational “tank bottoms.” As of the week ending June 5, 2026, Cushing held approximately 21.64 million barrels of crude oil (excluding the Strategic Petroleum Reserve), according to U.S. Energy Information Administration […]

US Rig Count Jumps the Most in Four Years: Oil-Directed Drilling Leads Multi-Week Surge

May 22, 2026 Clark Savage324

U.S. energy drillers added rigs at the fastest pace in years this week, with Baker Hughes reporting a solid +7 increase in the active rotary rig count to 558 for the week ending May 22, 2026. This marks the largest weekly gain in recent memory and extends a four-week streak of increases—the first such sustained […]

US Finalizes Easements For Dakota Access Oil Pipeline

May 21, 2026May 21, 2026 Clark Savage197

The U.S. Army Corps of Engineers has issued a Record of Decision finalizing the easement for the Dakota Access Pipeline (DAPL) to cross under Lake Oahe on the Missouri River in North Dakota. The move ends a years-long environmental review and legal battle, securing the long-term operation of the critical crude oil conduit nearly a […]

Diamondback Energy is immediately lifting higher oil output in response to the ongoing oil price rally

May 5, 2026May 5, 2026 Clark Savage933

According to the Bloomberg article (May 4, 2026) and Diamondback’s Q1 2026 earnings release/letter to shareholders: The company is currently pumping >520,000 barrels per day of oil (3% above its original full-year 2026 guidance midpoint of ~505,000 bpd). It is raising full-year 2026 guidance to 520,000+ bpd oil and 972,000+ boe/d total (up from the […]

US Rig Count Holds Steady at 551: Insights from the Latest Baker Hughes Report

February 20, 2026 Clark Savage171

The U.S. rotary rig count remained unchanged at 551 for the week ending February 20, 2026, according to the latest data from Baker Hughes. This marks no shift from the previous week but reflects a decline of 41 rigs compared to the same period last year, when the count stood at 592. This stability comes […]

US Oil Drilling Adds 2 Rigs This Week, But Down 36 Over Last Year

January 31, 2026 Clark Savage188

By Stuart Turley, Energy News Beat January 31, 2026 The latest Baker Hughes rig count report, released on January 30, 2026, shows a modest uptick in U.S. drilling activity with the total rig count climbing by 2 to 546. This marks a slight rebound from the previous week\’s 544 rigs. However, the figure remains significantly […]

Why Chevron and Exxon are Holding Their Stock Price Even When Oil is Holding at $60 to $65?

January 17, 2026 Clark Savage171

In the volatile world of energy markets, oil prices have stabilized around $60 to $65 per barrel throughout much of 2025 and into early 2026, a level that might typically pressure major oil companies\’ stock performance. Yet, industry giants Chevron (CVX) and ExxonMobil (XOM) have demonstrated remarkable resilience, with their shares holding steady or even […]

U.S. Total Rig Count Down One This Week With Production Also Down

January 17, 2026 Clark Savage127

The U.S. oil and gas industry saw a slight decline in drilling activity this week, with the total rig count dropping by one to 543, according to the latest data from Baker Hughes. This continues a trend of subdued rig additions amid fluctuating commodity prices and market uncertainties. Meanwhile, U.S. crude oil production also edged […]

Harold Hamm Says There Is No Need to Drill at $58 per Barrel

January 16, 2026 Clark Savage142

In the ever-volatile world of oil markets, few voices carry as much weight as that of Harold Hamm, the billionaire wildcatter and founder of Continental Resources. As oil prices hover in the low $50s to $60s per barrel amid global oversupply and weakening demand, Hamm has made headlines with his stark assessment: there\’s simply no […]

2026 Rig Count Starts Out on a Down Note

January 10, 2026 Clark Savage217

As we kick off 2026, the U.S. oil and gas industry is signaling caution, with the latest rig count data showing a slight decline to start the year. According to the weekly report from Baker Hughes released on January 9, 2026, the total number of active drilling rigs in the United States fell by 2 […]

Tag: Bakken

Cushing, Oklahoma Oil Storage Hits Tank Bottom: Implications for Energy Markets, Consumers, and Investors

US Rig Count Jumps the Most in Four Years: Oil-Directed Drilling Leads Multi-Week Surge

US Finalizes Easements For Dakota Access Oil Pipeline

Diamondback Energy is immediately lifting higher oil output in response to the ongoing oil price rally

US Rig Count Holds Steady at 551: Insights from the Latest Baker Hughes Report

US Oil Drilling Adds 2 Rigs This Week, But Down 36 Over Last Year

Why Chevron and Exxon are Holding Their Stock Price Even When Oil is Holding at $60 to $65?

U.S. Total Rig Count Down One This Week With Production Also Down

Harold Hamm Says There Is No Need to Drill at $58 per Barrel

2026 Rig Count Starts Out on a Down Note

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