Bakken

Bakken crude oil being transported on the BNSF train that derailed in northeast North Dakota last Wednesday was treated to lessen its volatility under state requirements established late last year (see Shale Daily, Dec. 11, 2014), officials told NGI’s Shale Daily on Friday.

EOG Resources Inc.’s crude oil and condensate production increased 16% in 1Q2015 compared to 1Q2014, but the company won’t be exerting much effort to further boost production until oil prices find their way higher, CEO Bill Thomas said.

EOG Resources Inc.'s crude oil and condensate production increased 16% in 1Q2015 compared to 1Q2014, but the company won't be exerting much effort to further boost production until oil prices find their way higher, CEO Bill Thomas said.

About 2.9 Tcf of natural gas and 1.4 billion bbl of oil will eventually be produced from Canada’s share of the Bakken Shale formation, according to Saskatchewan and Canadian government earth scientists.

About 2.9 Tcf of natural gas and 1.4 billion bbl of oil will eventually be produced from Canada’s share of the Bakken Shale formation, according to Saskatchewan and Canadian government earth scientists.

While they are seeing various producers adjusting or delaying capital spending plans in the face of the depressed crude oil prices, senior executives at San Antonio-based Tesoro Corp. and its midstream unit, Tesoro Logistics LP (TLLP), refused to blink on Thursday in talking about 2014 results and Tesoro’s plans for this year during an earnings conference call.

Bakken Shale pioneer Continental Resources Inc. (CLR) Monday cut its 2015 capital spending plans for the second time in as many months in the face of depressed oil prices. Still, production is expected to increase.

Bismarck, ND-based MDU Resources Group has placed on hold its plans for building a major natural gas pipeline to carry associated gas supplies from the Bakken oil boom. Dakota Pipeline is slated to be a $650 million project and had been aimed at a late 2017 start-up date.

Moving in the same direction as federal regulators about Bakken Shale crude oil transport, the North Dakota Industrial Commission (IC) on Tuesday adopted regulations requiring all of the state’s oil supplies to be conditioned.