North Dakota

No Uplift for Bakken Natural Gas Prices as Supply Glut Continues

No Uplift for Bakken Natural Gas Prices as Supply Glut Continues

Natural gas prices in North Dakota continue to languish at nearly 30-year lows amid nationwide oversupply, according to the state’s top oil and gas regulator. Production cuts announced by large operators in the gassy Marcellus and Haynesville shales have so far failed to meaningfully boost prices.   “We’re seeing rigs lay down in the natural gas…

March 18, 2024
North Dakota Natural Gas Prices Hit 28-Year Low, Highlighting Takeaway Constraints

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,…

February 21, 2024
Seasonally Strong Storage Casts Bearish Shadow Over Natural Gas Prices, but More Winter Awaits

Seasonally Strong Storage Casts Bearish Shadow Over Natural Gas Prices, but More Winter Awaits

An anticipated barrage of Arctic air could usher in one more blast of winter weather this month, eating into underground inventories of natural gas and providing an injection of upward momentum into the market when price bulls need it the most. This would follow a late-January and early-February run of mild temperatures across most of…

February 9, 2024
Natural Gas Count Eases Lower as Permian Activity Climbs, BKR Data Show

Natural Gas Count Eases Lower as Permian Activity Climbs, BKR Data Show

Total active U.S. natural gas rigs decreased by one to 119 for the week ended Friday (Jan. 26), while an uptick in Permian Basin activity helped lift the combined domestic tally one rig overall to 621, according to the latest count from Baker Hughes Co. (BKR). U.S. oil-directed rigs increased by two for the period…

January 26, 2024
Associated Natural Gas a Gift – and a Curse – for North Dakota Oil Producers

Associated Natural Gas a Gift – and a Curse – for North Dakota Oil Producers

North Dakota energy regulators expect a modest uptick in Bakken Shale oil production this year, though challenges persist around managing the immense volumes of liquids-rich natural gas extracted as a byproduct.  A case in point was the deep freeze on Wednesday (Jan. 17), which shut in about 700,000 b/d of oil and 2 Bcf/d of…

January 22, 2024
North Dakota Natural Gas Production Dips, Takeaway Capacity Concerns Forecast for 2024

North Dakota Natural Gas Production Dips, Takeaway Capacity Concerns Forecast for 2024

North Dakota natural gas production fell slightly in October because of an early wintry blast, but benign weather in the last two months of 2023 could lead to “great numbers” for oil and gas output, according to the state’s Department of Mineral Resources (DMR) director, Lynn Helms.  Production averaged 3.4 Bcf/d in October, down 1%…

December 28, 2023
Record Natural Gas Production, Plump Mountain Region Storage Suppress Rockies Prices

Record Natural Gas Production, Plump Mountain Region Storage Suppress Rockies Prices

Natural gas production in the Rockies, like the country overall, is at vigorous levels this fall even as demand from western markets eases. The result: stout supplies in storage and soft prices. Mountain region inventories were 23.5% higher than the five-year average as of Nov. 24, the most recent storage update from the Energy Information…

December 6, 2023
North Dakota Natural Gas Production Breaking Records as Takeaway Projects Advance

North Dakota Natural Gas Production Breaking Records as Takeaway Projects Advance

North Dakota natural gas production hit another record high in September, with growth poised to continue as pipeline egress projects come online. Production averaged 3.44 Bcf/d in September, up 4% versus August, data from the state’s Department of Mineral Resources (DMR) show.  Producers captured and marketed 3.26 Bcf/d or 95% of total production, in line…

November 20, 2023
North Dakota Posts Record Natural Gas Production for Second Straight Month

North Dakota Posts Record Natural Gas Production for Second Straight Month

North Dakota reported flat natural gas production growth in August versus July of 3.3 Bcf/d, which was nonetheless an all-time record, according to the state’s Department of Mineral Resources (DMR). Producers captured and marketed 3.15 Bcf/d, or 95% of total production, reflecting industry efforts to stamp out routine flaring. The price of natural gas delivered…

October 16, 2023
North Dakota Hits Record Natural Gas Production Amid Infrastructure Issues, Low Prices

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…

September 18, 2023
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