Bakken

Continental Pivoting to Oil-Weighted Bakken, SCOOP as Market Rebalances

Continental Pivoting to Oil-Weighted Bakken, SCOOP as Market Rebalances

Continental Resources Inc. plans to pivot from natural gas to oil-directed drilling in the latter half of 2021 in response to strengthening crude prices and a tighter supply-demand balance. Drilling in 2021 is to be mainly focused on the South Central Oklahoma Oil Province (SCOOP) and the mighty Bakken Shale of North Dakota, management said…

May 5, 2021
Bakken Shale Faces 400,000 b/d Shut-Ins from DAPL Closure

Bakken Shale Faces 400,000 b/d Shut-Ins from DAPL Closure

North Dakota’s Bakken Shale could experience up to 400,000 b/d of shut-ins for an interim period if a federal court hearing set for Monday results in the forced closure of the Dakota Access Pipeline (DAPL), the state’s chief oil and gas regulator said Thursday. Lynn Helms, director of the state’s Department of Mineral Resources, made…

April 16, 2021
Bakken Production Holding, But Winter Declines Expected Before Uptick

Bakken Production Holding, But Winter Declines Expected Before Uptick

End of 2020 statistics showed North Dakota’s Bakken Shale production holding relatively steady and other indicators, including oil prices, turning upward. But the state’s chief oil and natural gas official said production likely will drop for January and February. “The drilling rig count [15 as of last Friday] is substantially short of what we need…

February 16, 2021
Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor ASA continued to advance its worldwide energy portfolio during 2020, with a long-term strategy set on becoming a net-zero emissions leader relying less on fossil fuels. The management team held court with analysts and investors on Wednesday to share results for 2020 and the outlook going forward. Mirroring comments made by Big Energy CEOs…

February 10, 2021
Bakken Midstream Mulling Ethane-Natural Gas Power Plant

Bakken Midstream Mulling Ethane-Natural Gas Power Plant

Bakken Midstream Natural Gas LLC is considering developing a dual-fuel electric cooperative power plant in North Dakota that would primarily operate on ethane, with natural gas also in the fuel mix. Bakken Midstream is proposing to build the Williston Basin Energy Center for Mountrail-Williams Electric Cooperative near Williston, ND, in the heart of the Bakken…

January 19, 2021
U.S. E&P Bankruptcies Offsetting Lower 48 Growth, with Big Losses Forecast in Oil Output

U.S. E&P Bankruptcies Offsetting Lower 48 Growth, with Big Losses Forecast in Oil Output

The voluntary bankruptcies by U.S. exploration operators have continued to mount, with Lower 48 oil production by the insolvent companies set to decrease from current volumes by around 25%, or 200,000 b/d, at the end of 2021, according to a Rystad Energy analysis. “Operated oil production from the recent Chapter 11 filings is heavily weighted…

December 18, 2020
North Dakota Examining Potential for Bakken Natural Gas, Liquids Storage

North Dakota Examining Potential for Bakken Natural Gas, Liquids Storage

North Dakota’s Industrial Commission (IC) has asked the state legislature to authorize pursuing options to add oil and natural gas storage for the Bakken Shale. The governor-led commission “pre-filed a bill for next year’s legislature to take on permitting of oil, gas and natural gas liquids storage,” said Department of Mineral Resources director Lynn Helms.…

December 17, 2020
Bakken Oil Output Flat in October, but Natural Gas Up 2% from September

Bakken Oil Output Flat in October, but Natural Gas Up 2% from September

Oil production in the Bakken Shale during October remained flat month/month at 1.22 million b/d while natural gas output increased by 2% to 89 Bcf, the North Dakota Department of Mineral Resources (DMR) reported Monday. Oil production levels are not likely to grow until 2022, DMR director Lynn Helms said during a monthly webinar. “The…

December 15, 2020
Natural Gas Futures Slip Again and ‘Widow-Maker’ Flips Negative as Traders Losing Hope in Winter Weather

Natural Gas Futures Slip Again and ‘Widow-Maker’ Flips Negative as Traders Losing Hope in Winter Weather

Even with a brief cold blast sneaking back into the December forecast, natural gas futures moved lower again on Tuesday. With a key spread flipping to negative, traders appeared to have closed the book on winter with weeks to go before the first verse of Auld Lang Syne is sung.  The January Nymex contract settled…

December 8, 2020
Lower 48 Natural Gas Venting, Flaring Reached Record High in 2019, EIA Says

Lower 48 Natural Gas Venting, Flaring Reached Record High in 2019, EIA Says

Natural gas venting and flaring in the United States reached an all-time high of 1.48 Bcf/d in 2019, with North Dakota and Texas accounting for 85% of the total, the Energy Information Administration (EIA) said Tuesday. Vented/flared gas accounted for 1.3% of gross gas withdrawals nationwide, also a record, EIA researchers said. “As crude oil…

December 8, 2020
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