4,414 wells across 504 recorded operators, with 0 drilling permits filed in the 24-month window at summary refresh.
Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
Quick answer: The Powder River Basin formation in Montana has 4,414 wells on record across 504 recorded operators, with 0 drilling permits filed in the 24-month window at source refresh. Its operators with the most wells on record are Fidelity Exploration & Production Company, Denbury Onshore, Summit Gas Resources, Powder River Gas and Highline Exploration. Source: Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
The operators with the most well counts targeting the Powder River Basin formation in Montana:
| # | Operator | Wells in Powder River Basin |
|---|---|---|
| 1 | Fidelity Exploration & Production Company | 1,144 |
| 2 | Denbury Onshore | 472 |
| 3 | Summit Gas Resources | 237 |
| 4 | Powder River Gas | 165 |
| 5 | Highline Exploration | 116 |
| 6 | Redstone Gas Partners | 91 |
| 7 | Pinnacle Gas Resources | 78 |
| 8 | True Oil | 73 |
| 9 | Gary Energy | 65 |
| 10 | Placid Oil Company | 62 |
The Montana counties with the most Powder River Basin activity:
Big Horn, Powder River, Carter, Custer, Rosebud
Drilling permits in Montana each year, the Powder River Basin count and share of them, and the median lateral length of those Powder River Basin permits.
| Year | State permits | This formation | Share | Median lateral |
|---|---|---|---|---|
| 2026 | 208 | <3 | — | n<5 |
| 2025 | 54 | <3 | — | n<5 |
| 2024 | 72 | <3 | — | n<5 |
| 2023 | 61 | <3 | — | n<5 |
| 2022 | 65 | <3 | — | n<5 |
| 2021 | 50 | <3 | — | n<5 |
| 2020 | 22 | <3 | — | n<5 |
| 2019 | 75 | 26 | 34.7% | n<5 |
Share of each year’s Montana drilling permits by target formation, for the formations with the most permits.
| Year | Williston Basin | Bakken | Sweetgrass Arch | Powder River Basin | Central Montana Uplift | Heath Fm |
|---|---|---|---|---|---|---|
| 2026 | 95.2% | — | 1.4% | — | — | — |
| 2025 | 85.2% | 7.4% | 7.4% | — | — | — |
| 2024 | 90.3% | — | 5.6% | — | 4.2% | — |
| 2023 | 75.4% | 4.9% | 9.8% | — | 4.9% | — |
| 2022 | 63.1% | 9.2% | 13.8% | — | 9.2% | — |
| 2021 | 42% | 38% | 12% | — | 8% | — |
| 2020 | 54.5% | — | — | — | — | — |
| 2019 | 28% | 16% | 8% | 34.7% | 4% | 5.3% |
Buckhead Energy computes every figure on this page from grouped records in public oil and gas data. The page shows counts, sums, percentiles and indexes only; it does not list individual wells, leases or permits.
Counts under 3 wells and percentiles under 5 wells are withheld; totals are floors.
Share is the formation’s permits as a percent of the state’s permits that year. Median lateral length is published only when at least 5 permits stand behind it.
Last computed: 2026-11-06. These figures are informational only and are not a valuation of any mineral or royalty interest.
The Powder River Basin is a formation/play group recorded in Montana, with 4,414 wells on file across 504 distinct operators of record. Operators have filed 0 drilling permits targeting the Powder River Basin in the 24-month window at summary refresh. These are stored records, not a live measure of drilling.
Recorded formation activity provides regional context. It does not establish ownership, future production, royalty payments or a value for an individual tract. Consult qualified professionals about your specific interest.
4,414 wells target the Powder River Basin in Montana, worked by 504 recorded operators, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
The Powder River Basin operators with the most wells on record in Montana are Fidelity Exploration & Production Company, Denbury Onshore, Summit Gas Resources, Powder River Gas and Highline Exploration. The full ranking is in the table on this page. Formation summary date: 2026-11-06.
Operators filed 0 drilling permits targeting the Powder River Basin in the 24-month window at source refresh, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
Operators filed 0 new drilling permits targeting the Powder River Basin in Montana in the 24-month window at source refresh. New permits and spuds record reported activity stages; they do not establish ongoing drilling, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
Powder River Basin activity in Montana includes 4,414 wells on record and 504 recorded operators, with 0 drilling permits filed in the 24-month window at source refresh — from Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-06.
The primary counties recorded for Powder River Basin in Montana are Big Horn, Powder River, Carter, Custer, Rosebud. Formation summary date: 2026-11-06.
Value depends on your net mineral acres or royalty decimal, the operator, the remaining drilling locations, and current oil and gas prices. This page is informational only, not a valuation. Formation summary date: 2026-11-06.
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Get Your Free Written OfferFormation: Powder River Basin
State: Montana
Total wells: 4,414
Recorded operators: 504
Permits 24mo: 0
Summary date: 2026-11-06
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