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Bakken Shale

Empire Expands Reach in North Dakota with Williston Acquisitions

Empire Expands Reach in North Dakota with Williston Acquisitions

Empire Petroleum Corp. has boosted its holdings in North Dakota by expanding its existing interests in the Williston Basin and entering a play in the Birdbear formation. The Tulsa-based exploration and production company completed acquisitions earlier this month from an undisclosed firm for an undisclosed price. The deal could increase Empire’s net production in North…

April 21, 2022
North Dakota’s Estimate of Economic Bakken, Three Forks Drilling Area Grows 19%

North Dakota’s Estimate of Economic Bakken, Three Forks Drilling Area Grows 19%

The Bakken and Three Forks Petroleum System in western North Dakota holds about 3,000 more square miles of economic drilling inventory than previously thought, according to a new analysis from the North Dakota Petroleum Authority (NDPA). “Over the last two years, industry has used development strategies, perfected in the highest performing areas of the state,…

March 31, 2022
North Dakota’s Oil, Gas Supply Chain Said ‘Badly Broken,’ Limiting Output Upside

North Dakota’s Oil, Gas Supply Chain Said ‘Badly Broken,’ Limiting Output Upside

North Dakota oil and natural gas producers are facing multiple roadblocks to increasing production amid a historically tight global oil market, the state’s top regulator said this week. Department of Mineral Resources (DMR) director Lynn Helms discussed the challenges, along with the state’s production, drilling, permitting and natural gas flaring statistics for January, in his…

March 17, 2022
Whiting, Oasis to Join Forces in Bakken Through ‘Merger of Equals’

Whiting, Oasis to Join Forces in Bakken Through ‘Merger of Equals’

Bakken Shale independents Whiting Petroleum Corp. and Oasis Petroleum Inc. have agreed to join forces in a “merger of equals” transaction, the companies said Monday. “The combined company will have a premier Williston Basin position with top tier assets across approximately 972,000 net acres, combined production of 167,800 boe/d, significant scale and enhanced free cash…

March 7, 2022
Enerplus Touts ‘Transformational’ Pivot from Canada to Bakken, Marcellus

Enerplus Touts ‘Transformational’ Pivot from Canada to Bakken, Marcellus

Asset purchases in the United States, followed by oil and gas price increases, have paid off for Calgary-based Enerplus Corp., which switched to American production last year. In deals described as a transformation, Enerplus bought into North Dakota and its Bakken Shale formation in the Williston Basin with a $465 million takeover of Bruin E&P…

March 2, 2022
Bakken Oil Producers Seen Scaling Back Growth On Natural Gas Capture Concerns

Bakken Oil Producers Seen Scaling Back Growth On Natural Gas Capture Concerns

Bakken Shale oil producers will likely limit annual production growth to 1-2% over the next 10 years, driven largely by concerns about natural gas capture, according to North Dakota’s top oil and gas regulator. Department of Mineral Resources director Lynn Helms discussed the outlook, along with the state’s latest production and drilling statistics, with reporters…

February 17, 2022
Major Surge in Oil Drilling Domestically as Global Demand Outlook Strong

Major Surge in Oil Drilling Domestically as Global Demand Outlook Strong

A major increase in oil-directed drilling, especially in Texas, propelled a 22-rig surge in the U.S. rig count during the week ended Friday (Feb. 11), lifting the overall domestic tally to 635, the latest numbers from Baker Hughes Co. (BKR) show. Including gains of 19 oil-directed rigs, two natural gas-directed rigs and one miscellaneous unit,…

February 11, 2022
Whiting to Expand Operated Bakken Footprint, Pursue Modest Growth in 2022

Whiting to Expand Operated Bakken Footprint, Pursue Modest Growth in 2022

Whiting Petroleum Corp. has two agreements in hand to expand its operated leasehold in the Bakken Shale, and it has raised its capital budget for  2022. Management of the Denver-based independent said Tuesday the agreements entail acquiring nonoperated assets in the Bakken’s Sanish field from two undisclosed private companies for $273 million total. “These transactions…

February 8, 2022
U.S. Drilling Activity Rises on Strength of Williston Growth, Says Baker

U.S. Drilling Activity Rises on Strength of Williston Growth, Says Baker

Driven by strong growth in the Williston Basin, the U.S. oil and gas rig count climbed three units to 613 during the week ended Friday (Feb. 4), according to the latest figures published by oilfield services provider Baker Hughes Co. (BKR). Gains in the United States included two oil-directed rigs and one natural gas-directed unit.…

February 4, 2022
MPLX Targets Growth in Bakken, Marcellus and Permian

MPLX Targets Growth in Bakken, Marcellus and Permian

MPLX LP on Wednesday highlighted the top three destinations for the midstreamer’s capital spending program this year: the Bakken and Marcellus shale formations, and the Permian Basin. “In 2022, the majority of capital is expected to be directed at opportunities in the Marcellus, Permian and Bakken, where we are focused on high capital return projects”…

February 4, 2022