Bakken Shale

North Dakota Hits Record Natural Gas Production Amid Infrastructure Issues, Low Prices

North Dakota Hits Record Natural Gas Production Amid Infrastructure Issues, Low Prices

North Dakota achieved record natural gas production of 3.29 Bcf/d in July, up 1.3% from June, according to the state’s Department of Mineral Resources (DMR). Producers managed to capture and put to market 96% or 3.15 Bcf/d of the output, also an all-time high, highlighted DMR’s Lynn Helms, Oil and Gas Division director. He hosted…

September 18, 2023
Crescent Point Casting Off Bakken to Pursue Canada’s Natural Gas

Crescent Point Casting Off Bakken to Pursue Canada’s Natural Gas

Crescent Point Energy Corp. is dropping out of the Bakken Shale with a $500 million private sale, casting off its North Dakota assets to concentrate on unconventional natural gas in Western Canada. The Calgary-based independent said the transaction is with Kraken Resources, a portfolio company of private equity investor Kayne Anderson Capital Advisors. The package…

August 25, 2023
Oil Economics Driving Slow, Steady Natural Gas Production Growth in North Dakota

Oil Economics Driving Slow, Steady Natural Gas Production Growth in North Dakota

Production continues to edge upward in North Dakota’s oil and natural gas patch, with total output growing by 3% in June versus May, according to the state’s Department of Mineral Resources (DMR). DMR’s Lynn Helms, oil and gas division director, recently hosted a press conference to discuss the June figures and the outlook for exploration…

August 21, 2023
Hess Sees Bakken, Guyana Driving 10% Annual Production Growth Through 2027

Hess Sees Bakken, Guyana Driving 10% Annual Production Growth Through 2027

Hess Corp. has raised its oil and natural gas production forecast to 385,000-390,000 boe/d for this year, from previous guidance of 365,000-375,000 boe/d, management said Wednesday. The New York City-based independent operates in the Bakken Shale, as well as offshore Guyana, the Gulf of Mexico and Southeast Asia. The upward revision is primarily because of…

July 27, 2023
North Dakota Poised for Production Bump with More Natural Gas Takeaway Needed, Officials Say

North Dakota Poised for Production Bump with More Natural Gas Takeaway Needed, Officials Say

Well completion activity is on the rise in North Dakota, likely heralding a surge in oil and gas production and underscoring the need for more natural gas egress capacity, state regulators said Friday (July 14). Department of Mineral Resources (DMR) Director Lynn Helms and North Dakota Pipeline Authority Director Justin Kringstad held a press conference…

July 19, 2023
Bakken Natural Gas Egress Projects Moving Forward as Prices Still Sluggish

Bakken Natural Gas Egress Projects Moving Forward as Prices Still Sluggish

Some relief could be on the horizon for Bakken Shale oil producers facing punishingly low prices for their associated natural gas, as efforts to add takeaway capacity out of the basin are advancing. North Dakota Pipeline Authority Director Justin Kringstad provided an update on two projects during a press briefing on June 13. Kinder Morgan…

June 21, 2023
North Dakota Natural Gas Production Holding Steady Amid Sub-$2 Prices 

North Dakota Natural Gas Production Holding Steady Amid Sub-$2 Prices 

North Dakota reported flat growth in natural gas production in March versus February, with producers signaling no plans to curb output despite low prices in the Bakken Shale, according to the state’s Department of Mineral Resources (DMR). DMR’s Lynn Helms, Oil and Gas Division director, hosted a press briefing last week to discuss the March…

May 17, 2023
Ovintiv Uses Canadian Natural Gas to Cash In on West Coast Prices and Grows in Permian

Ovintiv Uses Canadian Natural Gas to Cash In on West Coast Prices and Grows in Permian

Ovintiv Inc. balanced its focus between its Permian Basin program and maximizing earnings from its Montney Shale assets during 1Q2023, exceeding production expectations and increasing revenue despite falling U.S. natural gas prices during the quarter. The Denver-based company made good on its word from the previous quarter about its goal to make Permian growth in…

May 15, 2023
Bakken Natural Gas Prices Languishing Below $2 as Production Recovers

Bakken Natural Gas Prices Languishing Below $2 as Production Recovers

Bakken Shale natural gas prices remain at their lowest levels since the height of the pandemic, according to North Dakota’s Department of Mineral Resources (DMR). The price of natural gas delivered to the Northern Border pipeline system at Watford City, ND, stood at $1.75/Mcf as of Monday (April 17). “There is currently enormous oversupply in…

April 20, 2023
Bakken Shale Natural Gas Prices ‘In the Tank’ as Production Rebounds From Winter Storm Shut-ins

Bakken Shale Natural Gas Prices ‘In the Tank’ as Production Rebounds From Winter Storm Shut-ins

Bakken Shale natural gas prices remain at pandemic-era lows amid an overall softening of the North American market, according to North Dakota’s Department of Mineral Resources (DMR). The price of natural gas delivered to TC Energy Corp. and Oneok Inc.’s Northern Border pipeline system at Watford City, ND, stood at $2.08/Mcf as of Wednesday (March…

March 17, 2023