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Bakken Shale

Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Calgary-based Enerplus Corp. is selling off a small bundle of oil and natural gas interests in Montana and North Dakota for $115 million, but the Williston Basin remains a priority, the CEO said.   Stakes are being sold in Montana’s Sleeping Giant field and North Dakota’s Russian Creek area of the Williston, home to the Bakken…

September 1, 2021
Andros Capital Splashes $150M on Permian JV as Upstream PE Deals Heat Up

Andros Capital Splashes $150M on Permian JV as Upstream PE Deals Heat Up

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…

August 31, 2021
Bakken Oil, Natural Gas Production Yet to Awaken from Covid Slumber

Bakken Oil, Natural Gas Production Yet to Awaken from Covid Slumber

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…

August 20, 2021
North Dakota’s Bakken Oil, Gas Production Said Struggling to ‘Wake Up’

North Dakota’s Bakken Oil, Gas Production Said Struggling to ‘Wake Up’

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…

August 17, 2021
Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

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…

August 13, 2021
MDU Resources Sees ‘Multi-Year Opportunities’ from Infrastructure Legislation

MDU Resources Sees ‘Multi-Year Opportunities’ from Infrastructure Legislation

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,…

August 11, 2021
Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

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…

August 5, 2021
Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

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…

July 29, 2021
Hess Moving Forward with Bakken Ramp-Up on Strong Oil Prices

Hess Moving Forward with Bakken Ramp-Up on Strong Oil Prices

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…

July 29, 2021
Higher Commodity Prices Driving Crestwood’s Activity, Enhanced Margins

Higher Commodity Prices Driving Crestwood’s Activity, Enhanced Margins

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…

July 29, 2021
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