Bakken Shale

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…

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…

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…

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…

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…

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…

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…

Chord Energy Corp. executives, in an inaugural earnings call after emerging from the merger of two key Bakken Shale players, said the firm’s core assets beat production expectations during the second quarter of 2022 and helped set a course for the new company. Chord was formed by the merger of independents Whiting Petroleum Corp. and…

U.S. independent Hess Corp. expects to bring 50 wells online in the second half of the year from its Bakken Shale assets compared to 32 in the first half as the company ramps up production amid a tight oil market. “Given the strength of the oil market and the world’s need for more oil supply,…