Williston Basin Archives - Page 3 of 6

Whiting Petroleum Continues Bakken Well Optimizations

October 29, 2015

30-Day Rates on New Pads Exceeding 1,000 BOEPD Oil and gas companies are focusing on efficiencies more than ever before, and Whiting Petroleum Corporation (ticker: WLL) continues to progress on its industry-leading acreage in the Williston Basin. Enhanced completions led to a quarter-over-quarter productivity increase of 44% in the Bakken/Three Forks play, the company said in its Q3’15 earnings release.

Flaring Innovation: An Interview with Brian Cebull, CEO of GTUIT

October 22, 2015

The Bakken Shale and the state of North Dakota are symbols of the hydraulic fracturing revolution, and innovations on hydrocarbon extraction continue to improve the process with each passing day. The technological advances vary across all lines of production, spanning from operations at the wellhead to lab research at the company headquarters. Among the innovators is GTUIT®, LLC, a privately

Private Equity Group Snatches Occidental’s Bakken Assets for $500 Million: Reuters

October 16, 2015

Reuters reports that Occidental Petroleum (ticker: OXY) is leaving the Williston Basin, announcing a $500 million sale with Lime Rock Resources for its 303,000 net acres. The deal, if finalized, equates to just $1,650 per net acre, roughly half of Capital One Securities’ estimated value of approximately $3,300 per net acre. Other agencies believed the region held roughly $3.0 billion

Whiting Petroleum: Enhanced Completions Yielding Big Results

August 4, 2015

Production Uplifts of 40% to 50% Whiting Petroleum (ticker: WLL), a Denver-based exploration and production company, set a personal record of 170,425 BOEPD (89% liquids) in its Q2’15 earnings release, issued on July 29, 2015. The volumes exceed the high end of guidance despite the sale of 8,300 BOEPD to date in 2015. Whiting generated $300 million in total proceeds from

Black Ridge Oil & Gas Secures Equity Joint Venture to Develop Williston Basin

July 23, 2015

Merced Capital Targets Initial Investment of $50 Million in Its First Oil and Gas Venture On July 23, 2015, Black Ridge Oil & Gas (ticker: ANFC), a Bakken/Three Forks E&P, announced a $50 million initial target investment from Merced Capital to form an entity that will acquire and develop Williston Basin non-operated assets. Black Ridge will receive a management fee and reimbursement

Whiting Petroleum Raises 2015 Capex by $300 Million

July 20, 2015

Whiting increases capex Whiting Petroleum (ticker: WLL) announced that it will increase its capital expenditures for 2015 to $2.3 billion, $300 million more than originally planned, on the back of strong well results. According to a company press release, Whiting estimates second quarter production at 15.5 MMBOE, or 170,200 BOEPD. These production estimates represent a 2% increase over the first

An OAG360 Exclusive Interview with Lynn Helms, Director of North Dakota’s Dept. of Mineral Resources

July 1, 2015

925 wells on backlog in North Dakota: 6-7 month inventory North Dakota can still reach 2 MMBOPD By increasing its oil production to record levels, North Dakota’s economy has experienced a complete turnaround in the last handful of years, and the Williston Basin is due the majority of the credit. The exploitation of one of the world’s premier shale plays

WPX Energy Boosts Williston Basin Type Curve to 750 MBOE

June 29, 2015

EUR Increase of 25% WPX Energy (ticker: WPX), a Tulsa-based exploration and production company with focus areas in the Piceance, San Juan and Williston basins, is preparing to ramp up activity in the second half of 2015. The company announced the acquisition of 14,300 net acres in the San Juan last week, and now plans on increasing its Williston rig

WPX Energy Tacks on Acreage in the San Juan Basin

June 23, 2015

WPX Energy (ticker: WPX) added 14,300 net acres to its San Juan Basin asset on June 22, 2015, increasing its overall position in the region to 100,000 net acres. WPX believes it holds 500 gross drilling locations across the Gallup oil window, including approximately 100 new locations from its recent acquisition. The assets were purchased from an undisclosed buyer for $26

Crude by Rail Growing Exponentially

April 1, 2015

The EIA’s latest tool for tracking crude shipments by rail shows massive increases in the past five years The Energy Information Administration (EIA) announced that it will begin providing monthly data on rail movements of crude oil. The EIA has also released data on the growth of crude-by-rail (CBR) since 2010, showing exponentially growth in that time. CBR activity is

Whiting Petroleum – Done Funded, Drilling Ahead

March 27, 2015

Whiting Petroleum (ticker: WLL), the largest E&P producer in the Williston Basin, shored up its balance sheet this week with a series of debt and equity raises. The deals include: Public offering of 35 million shares of common stock at $30.00/share for proceeds of $1.0 billion after deducting underwriter’s discounts and commissions. The underwriter has a 30-day option to purchase

Will the Drilling Slowdown Allow Williston Infrastructure to Catch Up?

March 24, 2015

North Dakota has been the poster child of the United States shale boom, boasting skyrocketing production, high economic growth rates and miniscule unemployment numbers. The discovery and exploitation of the Williston Basin has increased crude output in the state by more than six times from 2008 to 2014, ending the most recent year with average volumes of 1,087 MBOPD. North

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