The Bakken formation continues to be a significant player in North American oil production, with top operators driving drilling activity across the region. In 2024, several companies stood out in terms of their well-drilling efforts. Below is a detailed analysis of the top 10 Bakken drillers, highlighting their 2024 wells drilled, year-over-year spread compared to 2023, and overall impact on the region’s oil production.
1. Chord Energy
- Bakken Wells Drilled in 2024: 156
- Spread (2024 vs. 2023): -4
Chord Energy led the Bakken drilling activity in 2024, despite a slight decline from 160 wells in 2023. The company’s steady performance showcases its commitment to the region, maintaining a robust presence.
2. ConocoPhillips Company
- Bakken Wells Drilled in 2024: 154
- Spread (2024 vs. 2023): +5
ConocoPhillips increased its Bakken drilling activity by five wells in 2024. This growth reflects the company’s strategic focus on U.S. shale plays, particularly in high-potential areas like the Bakken.
3. Chevron U.S.A. Inc.
- Bakken Wells Drilled in 2024: 131
- Spread (2024 vs. 2023): +15
Chevron’s Bakken operations saw a significant increase, with 15 more wells drilled compared to 2023. This growth aligns with Chevron’s broader U.S. production strategy, focusing on maximizing output from key shale regions.
4. Continental Resources
- Bakken Wells Drilled in 2024: 124
- Spread (2024 vs. 2023): +5
As a longstanding leader in Bakken development, Continental Resources maintained a strong position in 2024. The company’s drilling efforts reflect its ongoing investment in the region, contributing to sustained production levels.
5. Devon Energy Corporation
- Bakken Wells Drilled in 2024: 79
- Spread (2024 vs. 2023): +2
Devon Energy’s drilling activity in the Bakken saw a slight increase in 2024. The company’s focus on efficient operations and targeted well completions helped maintain its competitive presence in the region.
6. Kraken Resources
- Bakken Wells Drilled in 2024: 51
- Spread (2024 vs. 2023): Not available
Kraken Resources, a private operator, continues to make an impact in the Bakken with a steady drilling program. The company’s activity in 2024 highlights its role as a significant mid-sized player in the region.
7. Hunt Oil Company
- Bakken Wells Drilled in 2024: 27
- Spread (2024 vs. 2023): Not available
Hunt Oil’s presence in the Bakken is consistent with its long-term strategy of developing unconventional oil plays. The company’s steady drilling activity indicates its commitment to maintaining a foothold in the region.
8. Petro-Hunt L.L.C.
- Bakken Wells Drilled in 2024: 23
- Spread (2024 vs. 2023): Not available
Petro-Hunt, a key family-owned operator, remains active in the Bakken. Its ongoing drilling efforts contribute to the overall production output of the region.
9. Silver Hill Energy Partners, LLC
- Bakken Wells Drilled in 2024: 23
- Spread (2024 vs. 2023): Not available
Silver Hill Energy Partners continues to expand its operations in the Bakken, focusing on efficient drilling programs and maximizing production from existing assets.
10. Phoenix Operating LLC
- Bakken Wells Drilled in 2024: 21
- Spread (2024 vs. 2023): Not available
Phoenix Operating LLC rounds out the top 10 Bakken drillers with 21 wells drilled in 2024. The company’s steady presence in the region highlights its strategic focus on the Bakken’s long-term potential.
Conclusion
The Bakken formation remains a key area for U.S. oil production, with major operators continuing to invest in drilling programs. The top 10 operators in 2024 showcased a mix of steady performance and growth, with companies like Chevron and ConocoPhillips leading the way in increased well counts. As drilling technologies and efficiencies improve, these companies are likely to maintain their strong positions in the Bakken, driving continued production from one of North America’s most prolific oil basins.
