North Dakota – Page 3 – Oil & Gas 360

Even with 955 DUCs Awaiting Completion, North Dakota has Record Month

July 13, 2018

Permian and Anadarko Basins are competition for capital and workforce The North Dakota Industrial Commission’s Department of Mineral Resources has released its production report for the month of May and the NDIC reports new all-time highs. Oil production: 1,244,629 barrels/day (New all-time high) Gas production: 2,318,754 MCF/day (New all-time high) Producing Wells: 14,755 (New all-time high) North Dakota rig count

North Dakota Remains Stable

June 15, 2018

Takeaway capacity more than adequate: Helms North Dakota’s April oil and gas production report was released and indicates that production and rig count is up thanks to stabilized WTI oil prices between $45 and $60/barrel. Lynn Helms of the North Dakota Industrial Commission’s Department of Mineral Resources said operators has shifted from running the minimum number of rigs with the

Whiting Petroleum to Present at EnerCom’s The Oil & Gas Conference® August 19-23, 2018

May 25, 2018

Produced 127 MBOEPD in Q1 Whiting Petroleum Corporation (ticker: WLL) is an independent exploration and production company focused on an oil asset base in North Dakota’s Williston Basin. Headquartered in Denver, Colorado, Whiting is one of the largest crude oil producers in North Dakota. Whiting produced an average of 127 MBOEPD in the first quarter of 2018. The company drilled

PetroShale Doubles Production in the Bakken/Three Forks

April 23, 2018

Bakken-focused PetroShale Inc. (ticker: PSH) released financial and operating results for the year-ended December 31, 2017. Production averaged 2,121 BOEPD in the fourth quarter and 2017 production averaged 2,445 BOEPD, an increase of 50% over 2016. Financially, PetroShale reported 2017 revenues of $44.0 million (an increase of 89% over 2016) and 2017 EBITDA of $21.2 million (an increase of 123%

North Dakota Produced 1.2 MMBOPD in Feb.; N.D. Gas Production Hit All Time High at 2.1 Bcf per Day

April 16, 2018

North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas

Warburg Pincus Earmarks $300 Million for New Permian E&P

February 5, 2018

Ridge Runner Resources, LLC is a new E&P focused on the Delaware Basin The new company has received a line of equity financing of up to $300 million from funds affiliated with Warburg Pincus. The company will be led by CEO Scott Germann, an Exxon-trained geologist with more than 20 years of financial and operational experience in the Permian Basin.

Flaring Rules Sting North Dakota Producers, but New Processing Capacity is Coming to the Rescue in 2018

January 26, 2018

Remember the Bakken boom? It may have been subjugated to the backseat behind the Permian with respect to oil industry activity and media coverage, but it’s still producing like crazy. The EIA ranks North Dakota second in the U.S., producing more than 36 million barrels of oil in October 2017. But the oil in North Dakota comes with what was

North Dakota Producing Almost 1.2 Million BOPD

January 17, 2018

North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD

A Boost for the Bakken

October 16, 2017

Demand for Bakken oil: Bakken appears to be emerging as a new export grade of crude In a webinar hosted by Argus Media this week, Argus VP Jeff Kralowetz said something interesting with respect to his company’s analysis of the various crude oil grades and exports coming out of the U.S.–Bakken oil in particular. “We’ve seen pretty dramatic growth in

Oil and Gas Activity Up in North Dakota

September 15, 2017

13,981 producing wells is another new all-time high The North Dakota Industrial Commission released its oil and gas production report, covering oil and gas activity for June and July of 2017. The production of oil and gas has increased from June to July. In only one month oil production increased by 14,653 BOPD and gas production increased by 24,917 mcf/day.

Buckhorn Energy: Helping XTO Cut Costs for Bakken Water Disposal

March 21, 2017

Buckhorn Energy to build, own and operate disposal system in McKenzie County; looks to Permian for expansion Colorado-based Buckhorn SWD Solutions, LLC, announced last week that the company has entered into a service agreement with XTO Energy (ticker: XTO) to provide produced water gathering and disposal services in McKenzie County, North Dakota. As part of the agreement, Buckhorn will build,

North Dakota tells Court Fed Flaring Rule “Runs Roughshod” Over its Sovereign Interests

November 28, 2016

North Dakota has a unique split estate configuration that complicates oil and gas rule making Last week, on the eve of the U.S. holiday, North Dakota joined Wyoming and Montana in a legal petition filed against the federal government’s final flaring and emissions rule. North Dakota filed a memorandum in support of the its unopposed motion to intervene as petitioner in case

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