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Bakken Shale

North Dakota Posts Record Natural Gas Production, Capture Rates; TC Eyes Northern Border Expansion

North Dakota Posts Record Natural Gas Production, Capture Rates; TC Eyes Northern Border Expansion

North Dakota reported record high natural gas production of 3.18 Bcf/d in September, up 2.8% from August, according to the latest data from the state’s Department of Mineral Resources (DMR). Producers captured and marketed 3.02 Bcf/d or 95% of the total, another all-time record amid efforts to curb routine gas flaring, said DMR’s Lynn Helms,…

November 18, 2022
Are Higher Natural Gas Prices Durable? No Doubt About It, Says Ovintiv CEO

Are Higher Natural Gas Prices Durable? No Doubt About It, Says Ovintiv CEO

The uplift in natural gas prices didn’t begin with Russia’s invasion into Ukraine and once the war ends, prices should remain “durable,” Ovintiv Inc. CEO Brendan McCracken said recently. Denver-based Ovintiv, one of the largest North American independents, flows natural gas and oil from the Bakken and Montney shales, and the Anadarko and Permian basins.…

November 17, 2022
Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Calgary-based Crescent Point Energy Corp. recorded a 10% increase in natural gas production during the third quarter, but the company is focusing on the Kaybob Duvernay formation for liquids growth over the next five years. Management said natural gas output hit 144.3 MMcf/d during the quarter, up from 130.8 MMcf/d a year earlier. Natural gas…

November 8, 2022
Hess Projects 37% Increase in Capital Spend Next Year in Bakken, Guyana Production Push

Hess Projects 37% Increase in Capital Spend Next Year in Bakken, Guyana Production Push

U.S. independent Hess Corp. expects another tight oil market next year and is increasing its capital expenditure for the upcoming year by $1 billion in a focus on exploration and production (E&P). “I have to say even though we’ve seen a slowing of demand in China and in Europe, overall global oil demand continues to…

October 27, 2022
Shale Pioneer Hamm Ups Deal Price in Taking Continental Private

Shale Pioneer Hamm Ups Deal Price in Taking Continental Private

Harold Hamm, the billionaire executive chairman of Continental Resources Inc., is set to take the largest Bakken Shale producer private with a new deal announced Monday. The Oklahoma City-based public explorer entered into an agreement with Omega Acquisition Inc., an Oklahoma subsidiary owned by Hamm, to begin a tender offer for the company’s outstanding common…

October 17, 2022
North Dakota Oil, Natural Gas Production Flat as Bakken Operators in Maintenance Mode

North Dakota Oil, Natural Gas Production Flat as Bakken Operators in Maintenance Mode

North Dakota’s natural gas production averaged 3.09 Bcf/d in August versus 3.1 Bcf/d in July, according to the latest figures from the state’s Department of Mineral Resources (DMR).  The slight dip was mainly because of a processing plant outage, DMR’s Lynn Helms, Oil and Gas Division director, told reporters.  The natural gas capture rate held…

October 17, 2022
Permian, Eagle Ford and Bakken Methane Cuts Hindered by Natural Gas Flaring Inefficiency

Permian, Eagle Ford and Bakken Methane Cuts Hindered by Natural Gas Flaring Inefficiency

Natural gas flaring from operations in the Permian Basin, Eagle Ford and Bakken shales does not work as efficiently as it could, with as much as 10% routinely unlit or malfunctioning, new research indicates. The Permian, Eagle Ford and Bakken account for about 80% of the gas flaring in the country, according to the University…

October 4, 2022
Hess, Nabors, Halliburton to Fund North Dakota Tribal Apprenticeship Program

Hess, Nabors, Halliburton to Fund North Dakota Tribal Apprenticeship Program

The North Dakota Tribal College System (NDTCS) is partnering with three leading oil and gas companies on an apprenticeship program to develop a homegrown workforce in the energy sector and other trades. Persistent labor shortages have plagued the Williston Basin, home to the mighty Bakken Shale, one of the Lower 48’s major oil and gas…

September 26, 2022
Steel Reef Acquires 400 Miles of Bakken Natural Gas Gathering Assets

Steel Reef Acquires 400 Miles of Bakken Natural Gas Gathering Assets

Steel Reef Infrastructure Corp. has completed a $40 million purchase of natural gas gathering assets in North Dakota’s Burke and Mountrail counties from Summit Midstream Holdings LLC. The assets comprise 400 miles of gathering lines and six additional compressor stations adjacent to Steel Reef’s current infrastructure, the company said, adding it will pay for the…

September 22, 2022
North Dakota Markets Record Natural Gas Volumes, Reports Three-Year Permitting High

North Dakota Markets Record Natural Gas Volumes, Reports Three-Year Permitting High

North Dakota posted a 1.5% month/month increase in natural gas production and a record high volume of gas captured in July, despite a 2.5% decline in oil output.  Natural gas production averaged 3.1 Bcf/d, of which 3 Bcf/d or 94% was captured and sent to market while the remaining 6% was flared off, according to…

September 19, 2022
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