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Bakken Shale

Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental Resources Inc. said Tuesday it is on track to meet or exceed its 2021 full-year oil and natural gas production guidance. The Oklahoma City-based exploration and production (E&P) company also indicated that it has lowered its total debt by 10% since the end of 2020. In an update ahead of its 1Q2021 earnings call…

April 14, 2021
Ecoark Looking to Power Cryptocurrency Mining with Constrained Natural Gas

Ecoark Looking to Power Cryptocurrency Mining with Constrained Natural Gas

San Antonio-based Ecoark Holdings Inc. plans to begin beta testing a cryptocurrency mining approach in May that would be powered by natural gas that is constrained by a lack of infrastructure. The diversified holdings company established a strategic initiatives team in February to analyze ways to deploy capital for the test project. Led by CFO…

April 13, 2021
Permian Leads Oil, Gas Well Completions to Pre-Pandemic Levels

Permian Leads Oil, Gas Well Completions to Pre-Pandemic Levels

Well completions in North America have nearly recovered to pre-pandemic levels, with hydraulic fracturing jobs reaching a 12-month high in March, according to Rystad Energy. Nowhere are completions climbing faster than in the Permian Basin, analysts said. The data is borne out by the rising rig count in West Texas and southeastern New Mexico. The…

April 12, 2021
Enerplus Continuing to Build Bakken Stronghold with Hess Purchase

Enerplus Continuing to Build Bakken Stronghold with Hess Purchase

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…

April 8, 2021
U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

U.S. Adds Six Rigs on Strength of Oil Activity; Natural Gas Count Steady

Another round of healthy gains in the oil patch pushed the U.S. rig count six units higher to 417 for the week ended Friday (March 26), according to data from oilfield services provider Baker Hughes Co. (BKR). After adding nine rigs in the previous week, the domestic oil patch picked up an additional six rigs…

March 26, 2021
Oasis Divesting Midstream Stakes Under Simplification Agreement, Buying Back $100M Shares

Oasis Divesting Midstream Stakes Under Simplification Agreement, Buying Back $100M Shares

Oasis Petroleum Inc. and Oasis Midstream Partners LP (OMP) on Monday announced a simplification agreement through which OMP is acquiring the producer’s remaining interests in two development companies or “DevCos” that own midstream infrastructure assets in the Bakken Shale and Permian Basin. The agreement follows Oasis’ restructuring and emergence from bankruptcy last November. OMP is…

March 23, 2021
North Dakota ‘Split’ on Federal Pause for Oil, Gas Permitting

North Dakota ‘Split’ on Federal Pause for Oil, Gas Permitting

As the Biden administration further examines the ramifications of its pause on oil and natural gas leases on federal lands, it will find North Dakota’s Bakken Shale has a “unique story to tell,” according to Department of Mineral Resources (DMR) Director Lynn Helms. Most of the federal lands in North Dakota are split estates, where…

March 18, 2021
EIA Projects Continued Decline in U.S. Natural Gas, Oil Output from Key Onshore Plays in April

EIA Projects Continued Decline in U.S. Natural Gas, Oil Output from Key Onshore Plays in April

Natural gas production from seven key U.S. regions is set to fall by 316 MMcf/d from March to April, extending a downward trajectory in projected output from the domestic plays that goes back to early last year, according to new data published Monday by the U.S. Energy Information Administration (EIA). Combined output from the Anadarko,…

March 17, 2021
Declines in U.S. Production from Seven Key Plays Expected from March to April, EIA Says

Declines in U.S. Production from Seven Key Plays Expected from March to April, EIA Says

Natural gas production from seven key U.S. regions is set to fall by 316 MMcf/d from March to April, extending a downward trajectory in projected output from the domestic plays that goes back to early last year, according to new data published Monday by the U.S. Energy Information Administration (EIA). Combined output from the Anadarko,…

March 15, 2021
Bakken Production Getting ‘More Gassy,’ as Expected

Bakken Production Getting ‘More Gassy,’ as Expected

Oil prices have streaked upward in North Dakota’s Bakken Shale as production has hit a winter lull, according to the state’s Department of Mineral Resources (DMR). DMR Director Lynn Helms in the monthly production report for January, which was issued on Thursday, said oil production was down about 4% month/month (m/m) to 35.5 million bbl…

March 13, 2021
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