Williston Basin

Tallgrass Pony Express Pipeline LLC has launched a binding open season to gauge interest from crude oil shippers in securing expansion capacity on a section of the 830-mile pipeline. Pony Express has a capacity of roughly 400,000 b/d, and sources crude from the Williston, Denver Julesburg and Powder River basins. The system stretches from Guernsey,…

Oasis Petroleum Inc. said Thursday it is exiting the Permian Basin to become a Williston Basin pure play. The Houston-based independent is selling its Permian acreage to an undisclosed buyer for total gross consideration of up to $481 million.  Oasis will receive $406 million at closing and up to three $25 million annual contingent payments…

Hess Corp. is selling off some of its Bakken Shale acreage in North Dakota to Calgary-based Enerplus Corp. for $312 million. The deal, set to be completed in May, includes the Little Knife and Murphy Creek acreage. The Hess assets are spread across 78,700 acres in the southernmost portion of its Bakken position. Total net…

Lower 48 independent Northern Oil and Gas Inc. has raised its production guidance for 2021 as it expects remaining curtailments to ease amid stronger commodity prices. The company expects to produce 37,750-42,750 boe/d on its properties in the Permian and Williston basins in 2021, with oil making up 78-80% of the mix.  By comparison, the…

An exemption for Native American lands in the Biden Administration’s executive order (EO) pausing new leasing on federal lands is “highly significant” for North Dakota’s Bakken Shale play, according to the state’s top oil and natural gas regulator. Biden’s order directed to the Interior Department’s (DOI) Bureau of Land Management “does not restrict energy activities…

Canadian producer Enerplus Corp. has gained more exposure in North Dakota’s Bakken Shale with a $465 million takeover of Houston-based Bruin E&P HoldCo LLC. The deal announced Monday for the North Dakota assets of the Bakken pure-play is forecast to propel a 20% production jump for Calgary-based Enerplus to a combined 103,500-108,500 boe/d.  The acquired…

In the story Bakken Midstream Mulling Ethane-Natural Gas Power Plant, the company proposing to build the Williston Basin Energy Center was misstated. Bakken Midstream Natural Gas LLC is proposing to build the plant for the Mountrail-Williams Electric Cooperative. NGI regrets the error.

Houston-based Oasis Petroleum Inc., which works the Permian and Williston basins, has completed a financial restructuring and emerged from bankruptcy. The independent, which filed for Chapter 11 protection in late September, said it has reduced its prepetition debt by $1.8 billion. It is trading on Nasdaq under “OAS.” “Oasis is now uniquely positioned with a…

Oklahoma City-based Western Natural Resources LLC is teaming up with global investor KKR to acquire producing and undeveloped oil and gas assets in the Williston Basin.