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North Dakota adding more rigs

Published: Jul 12 2016

BISMARCK, N.D., July 11 (UPI) -- The number of rigs actively exploring for or producing oil and natural gas in North Dakota is rising, state data show, despite a slump in oil prices.

State data show 29 rigs actively exploring for or producing oil and gas as of Monday, which according to data from Baker Hughes is an 11 percent increase from roughly one week ago. Rig counts serve as a loose barometer for the oil and gas industry and, while easing somewhat, markets are swinging back to the demand side in a sign of returning balance.

Read more at: http://www.upi.com/North-Dakota-adding-more-rigs/8791468236998/