Bakken Shale benchmark natural gas prices have hit their lowest point in more than two years, the result of an oversupplied Midwestern market, according to the state’s Department of Mineral Resources (DMR).

The price of natural gas delivered to TC Energy Corp.’s Northern Border pipeline at Watford City, ND, fell to $1.91/Mcf as of Thursday (Feb. 16). This price is the lowest seen since December 2020, DMR’s Lynn Helms, oil and gas division director, told reporters during a press briefing.

“There’s going to be a lot of pressure” on Bakken gas prices, Helms said. He said that publicly traded and privately held producers alike are sticking to their mandates to stamp out routine gas flaring despite the low prices. 

[Get Better Intel: Where are natural gas prices in...