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Bakken Shale

U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

Posting its smallest weekly decline in months, the U.S. rig count dropped one unit to finish at 265 for the week ending Friday (June 26), suggesting that upstream activity could finally be stabilizing after a prolonged period of Covid-induced retrenchment. According to the latest Baker Hughes Co. (BKR) data, total U.S. natural gas-directed rigs finished…

June 26, 2020
Continental Bringing Back Some Curtailed Oil Production in July as Oil Prices Strengthen

Continental Bringing Back Some Curtailed Oil Production in July as Oil Prices Strengthen

After curtailing output by 70% in May in response to a pandemic-driven market downturn, Continental Resources Inc. said Thursday it would bring some production back in July, although about 50% of output is to remain offline.

June 19, 2020
North Dakota Keeping Close Eye on DAPL Court Challenges

North Dakota Keeping Close Eye on DAPL Court Challenges

North Dakota is keeping a wary eye on the continuing legal challenges facing the Dakota Access Pipeline (DAPL), which carries 40% of the daily oil supplies from the prolific Bakken Shale.

June 17, 2020
North Dakota’s Bakken Oil, Gas Production Wilting at Historic Pace

North Dakota’s Bakken Oil, Gas Production Wilting at Historic Pace

Although Bakken Shale oil and natural gas prices in North Dakota have begun to recover, production continues to plummet at a historic pace, according to Department of Mineral Resources director Lynn Helms.

June 15, 2020
Williston Pure-Play Northern Oil Bolting On Acreage in Deal with WPX

Williston Pure-Play Northern Oil Bolting On Acreage in Deal with WPX

Northern Oil and Gas Inc. has signed a definitive agreement with WPX Energy Inc. to build its Williston Basin portfolio with the $1.5 million cash purchase of about 320 acres.

June 11, 2020
U.S. Natural Gas Permitting in May Falls Most in Decade while Permian Suffers Largest Monthly Decline

U.S. Natural Gas Permitting in May Falls Most in Decade while Permian Suffers Largest Monthly Decline

The Permian Basin in May reported the largest monthly decline in oil and gas permits ever, down 47% from April, as applications by large-cap operators fell to their lowest levels in history, off by almost three-quarters, Evercore ISI said Tuesday.

June 9, 2020
U.S. Midstream Companies Facing Tough Road Even as Crude Prices, Production Recover

U.S. Midstream Companies Facing Tough Road Even as Crude Prices, Production Recover

The oil market may begin to recover next month, but U.S. midstream companies still face a “challenging” environment as cash flow, low pipeline utilization and other factors may stall a return to financial health, according to Wood Mackenzie.

June 8, 2020
Bakken Blockchain Pilot Showing Promise for Oil, Gas Operators

Bakken Blockchain Pilot Showing Promise for Oil, Gas Operators

The first pilot leveraging blockchain technology was successfully completed on five Equinor ASA wells in North Dakota’s Bakken Shale, the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium said Wednesday.

June 4, 2020
North Dakota E&Ps, Mineral Owners Testify On Oil Patch Devastation

North Dakota E&Ps, Mineral Owners Testify On Oil Patch Devastation

Stakeholders in North Dakota’s oil patch offered diverse opinions on Wednesday to the state’s oil and gas regulator on how to address the challenges facing operators and mineral owners in the Bakken Shale, where exploration and production (E&P) has been decimated by the collapse in demand and prices caused by Covid-19.

May 22, 2020
Oil, Natural Gas Production from Key Lower 48 Plays Down Again in June, Says EIA

Oil, Natural Gas Production from Key Lower 48 Plays Down Again in June, Says EIA

Oil and natural gas production from seven of the nation’s most prolific onshore unconventional plays will be down in June compared with May, a second consecutive decline, as the impacts of the coronavirus pandemic continue to echo through the economy, according to the Energy Information Administration (EIA).

May 18, 2020