The number of active oil rigs statewide has plummeted by nearly 50 percent since November, said Ron Ness, North Dakota Petroleum Council president -- there were 98 active rigs in November, compared to 50 today.
"November was kind of the peak," Ness said.
And Ness doesn't anticipate the numbers will come back up anytime soon.
"We do feel that we're going to continue to see a slide in the drilling rig count," Ness said, adding many people have been laid off in recent months as a result. "Each drilling rig, we figure employs 120 direct and indirect people."
The number of rigs actively exploring for oil and natural gas in the United States dropped by 44 this week to 1,126, according to Associated Press reports. The count is down more than 40 percent since the end of August.
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Ness said the price of oil is directly affecting the number of active rigs.
"It takes higher oil prices to make the wells economic," Ness said.
Oil prices peaked near $150 a barrel in July before plunging, according to the Associated Press. Light, sweet crude for April delivery reportedly fell 42 cents to $46.61 in trading Friday on the New York Mercantile Exchange.
