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…
Articles from Bakken Shale
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.
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.
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.
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.
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.
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.
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.
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.
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).