North Dakota reported Friday it again has set new all-time records for natural gas and oil production as the price of its much-sought-after light sweet crude oil took a nosedive, dropping $14/bbl compared to October prices, according to the latest statistics from the state Department of Mineral Resources (DMR).
Helms
Articles from Helms
Bakken Projected Growth Carries Price, Demand Questions
The Bakken has the potential to fill all of the current added demand for sweet crude, but the Eagle Ford Shale and the Permian Basin will have something to say about that, a North Dakota official said.
North Dakota Oil Production Could Hit 1.6M b/d by 2017
North Dakota’s robust oil production is racing toward the 900,000 b/d level and could hit 1.6 million b/d by 2017, but with that growth the state will face stiffer challenges in terms of the growth of infrastructure.
North Dakota Aims to Accelerate Flaring Cuts
Following an upswing in the percentage of associated gas being flared in the most recent monthly oil/natural statistics, albeit due to gas processing and electric grid breakdowns, North Dakota state officials are stepping up their efforts to speed up the reduction of flaring, which again hangs at 30%. The state wants new programs or rules in place early next year.
North Dakota Regains Mojo with Record Production
After a small slump in past monthly statistics reports, North Dakota regained its record-setting production, setting new highs for natural gas/oil production, wells and permitting in its most recent monthly totals for July. Gas production increased by 4% and oil jumped 6.4% month over month.
BLM Fracking Rules A ‘Certainty,’ North Dakota Official Says
After meeting with regional officials from the federal Bureau of Land Management (BLM) in Denver on Wednesday, North Dakota’s chief regulator for oil and natural gas production, Lynn Helms, said he is convinced that there will be BLM rules covering hydraulic fracturing (fracking) on federal lands (seeShale Daily,May 17).
Flaring Draws Renewed Interest in Wyoming, North Dakota
Wyoming and North Dakota are stepping up statewide assessments of ways to cut down on the volumes of associated natural gas flaring at oil wellhead sites, but the economics for oil/gas operators in some cases are complicating the efforts.
ExxonMobil’s Tillerson Defends Onshore Gas Drilling
ExxonMobil Corp. CEO Rex Tillerson, who helms the largest natural gas producer in North America, attempted civility and then cut short a barrage of critics Wednesday who voiced their concerns about hydraulic fracturing (hydrofracking) at the company’s annual meeting in Dallas.
Encana to Accelerate Development Through Partnerships
The pace of development at Encana Corp. was hampered in 2010 by low natural gas prices, but farm-ins, partnerships and joint ventures (JV) similar to the $5.4 billion transaction with an affiliate of PetroChina International Ltd. will help the company double its production growth over the next five years, CEO Randy Eresman said Thursday.
Kinder Bullish on Shale Gas, Midstream Opportunities
Rich Kinder, who helms one of the largest pipeline transportation and energy storage companies in North America, agrees with a host of energy pundits that North America’s extraordinary shale discoveries have pressured U.S. gas prices and contributed to near-capacity storage levels. However, to the savvy business leader, the new shale supplies are “sort of like nirvana.”