Rising gas-to-oil ratios (GOR) and a mandate to stamp out flaring in the Bakken Shale mean opportunity for the Williston Basin’s leading natural gas processor, Oneok Inc., management said Tuesday. During a call with analysts to discuss the midstreamer’s fourth quarter 2023 earnings, CEO Pierce Norton II and his executive team highlighted that GORs in…
Bakken
Articles from Bakken
North Dakota Natural Gas Prices Hit 28-Year Low, Highlighting Takeaway Constraints
Oil producers in North Dakota’s Bakken Shale are facing the lowest natural gas prices in nearly three decades, according to the state’s top regulator. Department of Mineral Resources (DMR) Director Lynn Helms addressed the issue during a recent press conference. The price of natural gas delivered to the Northern Border pipeline system at Watford City,…
Natural Gas Futures, Spot Prices Plunge as Weather Models Point to Warm-up After Arctic Blast
Natural gas futures sank below $3.000/MMBtu on Tuesday as markets looked past the immediate brutal cold to an expected warm-up in temperatures next week as indicated by increased confidence in weather models. At A Glance: Brutal cold to last into weekend Production drops to 92.4 Bcf/d NGI models 165 Bcf draw The February Nymex natural…
Permian, Eagle Ford and Powder River Requests to Develop Natural Gas, Oil Declining
Permits to develop natural gas and oil in the Lower 48 slumped in August, with the biggest operating area, the Permian Basin, off by double-digits from July and 12% year-to-date. “Permian permitting continues to slow,” down by 407 or 37% month/month (m/m), with year-to-date permits declining by 820, according to Evercore ISI analysts led by…
North Dakota Hits Record Natural Gas Production Amid Infrastructure Issues, Low Prices
North Dakota achieved record natural gas production of 3.29 Bcf/d in July, up 1.3% from June, according to the state’s Department of Mineral Resources (DMR). Producers managed to capture and put to market 96% or 3.15 Bcf/d of the output, also an all-time high, highlighted DMR’s Lynn Helms, Oil and Gas Division director. He hosted…
Crescent Point Casting Off Bakken to Pursue Canada’s Natural Gas
Crescent Point Energy Corp. is dropping out of the Bakken Shale with a $500 million private sale, casting off its North Dakota assets to concentrate on unconventional natural gas in Western Canada. The Calgary-based independent said the transaction is with Kraken Resources, a portfolio company of private equity investor Kayne Anderson Capital Advisors. The package…
Oil Economics Driving Slow, Steady Natural Gas Production Growth in North Dakota
Production continues to edge upward in North Dakota’s oil and natural gas patch, with total output growing by 3% in June versus May, according to the state’s Department of Mineral Resources (DMR). DMR’s Lynn Helms, oil and gas division director, recently hosted a press conference to discuss the June figures and the outlook for exploration…
Bakken Natural Gas Egress Projects Moving Forward as Prices Still Sluggish
Some relief could be on the horizon for Bakken Shale oil producers facing punishingly low prices for their associated natural gas, as efforts to add takeaway capacity out of the basin are advancing. North Dakota Pipeline Authority Director Justin Kringstad provided an update on two projects during a press briefing on June 13. Kinder Morgan…
North Dakota Natural Gas Production Holding Steady Amid Sub-$2 Prices
North Dakota reported flat growth in natural gas production in March versus February, with producers signaling no plans to curb output despite low prices in the Bakken Shale, according to the state’s Department of Mineral Resources (DMR). DMR’s Lynn Helms, Oil and Gas Division director, hosted a press briefing last week to discuss the March…
Bakken Shale Natural Gas Prices ‘In the Tank’ as Production Rebounds From Winter Storm Shut-ins
Bakken Shale natural gas prices remain at pandemic-era lows amid an overall softening of the North American market, according to North Dakota’s Department of Mineral Resources (DMR). The price of natural gas delivered to TC Energy Corp. and Oneok Inc.’s Northern Border pipeline system at Watford City, ND, stood at $2.08/Mcf as of Wednesday (March…