Bakken

EIA: U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June

Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said.

U.S. Gas Surplus Forecasted to Vanish by End of Winter 2024/25

U.S. gas inventories are nearing record highs for this time of year, propelled by exceptionally mild temperatures during the winter of 2023/24, attributed to the El Nino weather phenomenon.

Oil Prices Rise on Prospect of U.S. Replenishing Strategic Reserve

Oil prices rose on Thursday on the prospect the U.S. may start buying crude for its petroleum reserve, after prices sank to a seven-week low on hopes for an Israel-Gaza ceasefire, doubts about U.S. interest rate cuts and swelling oil inventories.

Texas Oil Operators Increase Flaring Amid Weak Gas Prices

Operators drilling for oil in Texas are scrambling to dispose of their excess natural gas amid a supply glut and weak prices, prompting an uptick in flaring requests.

Report: Global Upstream Sector Eyes $150 Billion in Deals for Rest of 2024

The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts said.

Natural Gas Price Plunge Hits Big Oil Earnings Hard

U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago.

Hess Profit Soars on Increased Guyana Output, Positive Sign for Exxon

Hess Corp. on Thursday reported first-quarter earnings well above analysts' forecasts, driven by a 28% increase in Guyana oil output, a sign Exxon Mobil's results out Friday could also top forecasts.

U.S. Shale Oil Sector Sees Revival Through Advanced Technology Adoption, Financial Obstacles Remain

Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so.

U.S. Oil and Gas M&A Hits Quarterly Record After Strong 2023

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year's fierce merger pace centered in the top U.S. shale field, data provider Enverus said on Tuesday.

North Dakota's Bakken Rig Count Drops as Consolidation Sweeps Oil Patch

Operators in North Dakota's Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday.

U.S. Pipeline Firms Looking to Follow Biggest Customers into M&A Wave

U.S. energy pipeline and storage operators have spent two years watching the consolidation of oil and gas producers, and now they are gearing up for the merger wave to hit their sector, executives, investors, and analysts said.

Gas Pipeline Expansion Trends Shift: Intrastate Capacity Surpasses Interstate in 2023

In a significant shift, natural gas intrastate pipeline capacity outpaced interstate additions in the United States in 2023, according to data from the U.S. Energy Information Administration (EIA).

Bakken Drillers Push Back Against U.S. Carbon Pipeline Company's No Oil Recovery Promise

Summit Carbon Solutions is trying to build the biggest carbon dioxide capture pipeline in the United States to transport and bury greenhouse gases. The company has repeatedly pledged that its project will not be used by drillers to boost output from oil fields.

Devon Energy Reports Lower Profit, Anticipates Production Impact from Winter Storm

U.S. shale producer Devon Energy reported a fall in fourth-quarter profit on Tuesday, hurt by lower oil and gas prices and forecast a 2% impact in first-quarter production due to severe winter weather.

North Dakota Natural Gas Output Reaches Record High in December, Flaring Eases

Natural gas production in North Dakota in December rose to a record 3.525 billion cubic feet per day (Bcf/d) from the prior all-time high of 3.469 Bcf/d in November, while gas flaring eased.

Spotlight on Bakken: Gas Expansions Offer Alternative to Permian Constraints

Fueled primarily by U.S. production growth concentrated around the oil-generating geology of North Dakota, the Williston Basin’s midstream footprint has expanded according to the region’s evolving needs.

Clean Energy's Tri-Cross Dairy Begins Production of Renewable Natural Gas

Clean Energy Fuels Corp. has announced the successful completion and operational launch of its latest renewable natural gas production facility at Tri-Cross Dairy in Viborg, South Dakota.

EIA Projects U.S. Oil Output Surge from Top Shale Regions in March

U.S. oil output from top shale-producing regions will rise in March to its highest in four months, the U.S. Energy Information Administration (EIA) said on Monday in its monthly Drilling Productivity Report.

Silver Hill Energy Partners to Buy Liberty Resources' Bakken Assets

Silver Hill Energy Partners said on Wednesday it would acquire Liberty Resources II's interests in oil and gas properties and all of Liberty Midstream Solutions in North Dakota for an undisclosed amount.

Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output

U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.

EnCap Eyes $5 Billion Sale of Bakken Shale Producer Grayson Mill

Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday.

North Dakota Oil Production Plummets by 650,000 to 700,000 bpd Amid Extreme Cold

Oil production in North Dakota was estimated to have dropped by more than half its typical output because of extreme cold and related operations challenges, the state's pipeline authority said on Wednesday.

Deep Freeze Hits U.S. Oil Industry from North Dakota to Texas

A severe winter storm shut a U.S. Gulf Coast refinery in Texas on Tuesday, triggered malfunctions at others, and halved North Dakota oil production as it dumped snow and rain across a broad swath of the nation.

EOG President: U.S. Oil and Gas Production Growth to Slow in 2024

U.S. oil and gas production will not continue to grow this year at the pace that it did in 2023, U.S. shale producer EOG Resources President Lloyd Helms said on Thursday.

Howard Energy Partners Completes $800 Million in 2023 Growth Projects, Achieves Record Volumes

(P&GJ) — Howard Energy Partners completed $800 million in 2023 growth projects, including new pipelines and facilities in key U.S. oil and gas basins, along with storage and logistics for renewable diesel on the Texas Gulf Coast.

Bakken Case Study: Expanding Operations Depends on Thick-Walled HDPE Pipe

(P&GJ) – As Continental Resources expands its operation in Dunn County, North Dakota, an important component is the use of high-density polyethylene (HDPE) pipe that was selected not only for its integrity but also because it can be installed without scaring the environment.

Bakken Shale Unlikely to Return to Glory Days, Even With Chevron, Hess Deal, Analysist Predict

The Bakken formation is a long way from export terminals, which means producers have higher transport fees and smaller profits than their competitors in the giant Texan and New Mexican shale areas that are closer to the main export hubs on the Gulf Coast.

WBI Energy's North Dakota Natural Gas Pipeline Expansion Gets FERC Approval

(P&GJ) — For the project, WBI Energy will construct approximately 60 miles of 12-inch natural gas pipeline and ancillary facilities to Wahpeton from an existing compressor station at Mapleton, North Dakota.

Bakken Success Boosts Need for Gas Capture Innovations

(P&GJ) — While one of North Dakota’s top energy officials, Justin Kringstad, readily leads the cheers for his state’s success with industry in curbing the economic and environmentally harmful practice of flaring associated gas at well sites.

Energy Transfer to Buy Crestwood in $7.1 Billion Pipeline Deal

The $7.1 billion deal will see Energy Transfer add about 2 billion cubic feet per day (Bcf/d) of gas-gathering capacity, 1.4 Bcf/d of gas-processing capacity and 340,000 barrels per day (bpd) of crude-gathering capacity.