Bakken Shale

Houston-based private equity (PE) firm Andros Capital Partners LLC said Wednesday (Aug. 25) it has closed a $150 million development drilling joint venture in the Permian Basin’s Spraberry and Wolfcamp formations in Midland County, TX. Andros affiliate Andros Permian LLC is to fund the drilling program in a joint venture partnership with exploration and production…

New data has shown that oil and natural gas production in North Dakota’s Bakken Shale fell in June from May, as Department of Mineral Resources director Lynn Helms said output was struggling following last year’s pandemic. “The Covid-19 pandemic sort of put the industry to sleep, and it is struggling somewhat to wake up,” Helms…

Oil and natural gas production in North Dakota’s Bakken Shale fell in June from May, as Department of Mineral Resources director Lynn Helms said output was struggling following last year’s pandemic. “The Covid-19 pandemic sort of put the industry to sleep, and it is struggling somewhat to wake up,” Helms said last week during a…

The Eagle Ford Shale and Williston Basin led a surge in U.S. onshore drilling activity during the week ended Friday as the domestic rig count rose nine units to an even 500, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting…

Bismarck, ND-based MDU Resources Group Inc. sees growth in its infrastructure businesses building natural gas pipelines and supplying construction services and materials as the Biden administration’s omnibus infrastructure bill passed the U.S. Senate Tuesday. The Biden administration’s “infrastructure proposals will provide additional multi-year opportunities to some of our core businesses, such as surface transportation improvements,…

It’s already completed a big Lower 48 takeover this year, but Devon Energy Corp. isn’t ruling out making a bid on more oil and natural gas assets, the CEO said Wednesday. Over the last couple of weeks, rumors have swirled that Royal Dutch Shell plc may sell its Permian Basin portfolio, estimated to be worth…

Ovintiv Inc., whose portfolio stretches from Western Canada to West Texas, is seeing costs for materials and labor rising, but inflationary pressures and capital guidance are being kept in check with operational efficiencies, executives said Wednesday. CEO Doug Suttles, who is retiring, presided over his final conference call on Wednesday, ushering in a new era…

U.S. independent Hess Corp. said Wednesday it was moving forward with plans to ramp up drilling activity in the Bakken Shale amid continued commodity price strength. Hess plans to add a third rig in the Bakken in September, something it previously said it would consider if oil prices continued to improve. “We have been operating…

Crestwood Equity Partners LP expects the higher commodity prices that drove increased drilling and completion activity in the second quarter of 2021 to fuel even higher utilization of its assets in core areas for the remainder of the year. The Houston-based midstreamer’s gathering and processing (G&P) segment, which was hit hardest during last year’s Covid-induced…