Updated November 2026
North Dakota's active rig count climbed from 24 in August to 34 by mid-October 2026, while the state pumped about 1.16 million barrels a day and WTI traded near $98. For Western North Dakota property, that means more crews, more operators, and more demand for rentals, shop space, and yard space in Williston and Watford City heading into winter.
My read after watching this market since 2015: this is a disciplined uptick, not a 2012-style boom, and the property types that feel it first are rentals and industrial space, not luxury homes.
How many rigs are running in North Dakota right now?
The North Dakota Department of Mineral Resources' October Director's Cut showed the state's rig count at 24 in August, 28 in September, and a current count of 34 when data was pulled in mid-October. The Williston Basin as a whole had 35 rigs, and there were 8 active frack crews.
Production held strong. August oil output averaged 1,161,427 barrels per day, up slightly from July and about 5.6% above the 1.1 million barrel-per-day level the state's revenue forecast assumed. The number of producing wells hit an all-time high of 20,177.
| Indicator (ND DMR) | July 2026 | August 2026 | September 2026 | Mid-October 2026 |
|---|---|---|---|---|
| Active rigs | 24 | 24 | 28 | 34 |
| Oil (bbl/day) | 1,158,660 | 1,161,427 | Releases Nov 20 | Releases Dec 18 |
| Well completions | 74 | 96 | 105 | Not yet reported |
| New permits | 93 | 84 | 78 | Not yet reported |
Ten more rigs in roughly two months means more crews on the ground in Williams and McKenzie counties. Each rig brings drillers, service hands, truckers, and support workers who need housing, and the companies behind them need yard, shop, and office space.
Why are oil prices so high, and does it matter for Williston property?
The same Director's Cut put WTI at $97.88 at the time of the briefing, and North Dakota's August market price averaged $76.14 a barrel, well above the $57 the state budgeted for. At the pump, the U.S. Energy Information Administration reported regular gas at $4.15 and diesel at $6.29 nationally on November 2.
The Federal Reserve's October statement pointed to elevated uncertainty owing in part to geopolitical developments. I will not pretend to forecast where oil goes next. What I can tell you is how our market behaves when prices hold this high: operators add rigs carefully, fill the jobs they have, and then look for places to put people and equipment.
I have sold property here through the boom and the slowdown, so I will tell you what actually changed: operators learned. Permits actually slipped from 93 to 78 over the summer while completions climbed from 74 to 105. They are finishing wells they already have, with longer laterals, instead of chasing every acre. That is steadier for property owners than the wild swings of the last cycle.
Which kinds of property benefit first when rigs go up?
Not everything moves at once. At Proven Realty, here is the order we typically see demand show up when activity rises:
1. Rentals and short-term housing
New crews rent before they buy. Landlords with clean, furnished, or flexible-term units in Williston and Watford City usually see inquiries first. If you own a rental, this is a good time to review your rent against the market and your lease terms.
2. Shops, yards, and industrial space
Service companies need heated shop space, laydown yards, and room to park trucks. Industrial and shop condo inventory tends to tighten quickly when rigs come back, and lease rates follow.
3. Land and acreage
Buyers looking at land near highway corridors for storage, yards, or future building tend to get active once operators commit to a longer drilling program. I covered the long view on who is buying North Dakota land and why.
4. Owner-occupied homes
Home purchases come last, after workers decide the job is long-term. That lag is usually several months, which is why a fall rig increase often shows up in spring home sales.
Investors and commercial owners should be positioning now. Homeowners thinking about selling should watch spring, when relocating workers who rented this winter start looking to buy.
A summary cannot tell you which shops, yards, rentals, or homes are actually available right now in Williston and Watford City. Our live listings can.
Is this another Bakken boom, or should I be cautious?
Be optimistic and careful at the same time. High prices can fall fast, and the Bakken has seen that before. Mortgage rates are also above 7%, according to Freddie Mac, which keeps many buyers on the sidelines no matter how busy the oil field is.
The healthier sign is that this activity rests on efficiency, not a land rush. Longer wells, high gas capture (95.8% statewide in August), and steady completions point to an industry that plans to keep producing, not one sprinting to grab acreage. For the bigger picture on what moves values here, read what is driving North Dakota property prices.
After more than 1,400 closings in this market, the pattern I trust is simple: buy property that works even if oil drops $20. If a rental, shop, or house only makes sense at $98 oil, pass on it.
Questions about the Bakken and property values
What is the North Dakota rig count in 2026?
The ND Department of Mineral Resources reported 34 active rigs in mid-October 2026, up from 24 in August. The next update comes with the November 20 Director's Cut.
How much oil is North Dakota producing?
About 1.16 million barrels per day in August 2026, the most recent month reported. That is roughly 5.6% above the state's revenue forecast assumption.
Do higher oil prices raise home prices in Williston?
Usually with a lag. Rental demand and industrial space respond first, and home prices follow if activity holds for several months and workers decide to stay.
Is now a good time to buy a rental property in Williston or Watford City?
It can be if the numbers work at conservative rents and today's financing costs. Underwrite as if oil drops, not as if it stays near $98.
Is shop and industrial space in short supply?
Shop and yard space tends to tighten first when rigs return. If you need space for a crew or equipment, start looking before spring.
When is the next Director's Cut?
November 20, 2026 (September numbers) and December 18, 2026 (October numbers), according to the ND DMR schedule.
Rigs are climbing, production is steady, and the companies doing the work are smarter about it than they were a decade ago. That is good news for anyone who owns or wants to own property here, as long as you buy for the long run and not for this month's oil price.
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