Bakken Shale

Increasing activity in the oil patch lifted the U.S. rig count three units higher to 698 for the week ended Friday (April 29), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Activity gains in the United States for the week resulted entirely from oil-directed drilling and also included net increases…

U.S. independent Hess Corp. expects to add a fourth rig to its Bakken Shale activity by the end of this year, but the company continues to prioritize capital discipline. “As our portfolio becomes increasingly free cash flow positive in the coming years we commit to return up to 75% of our annual free cash flow…

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…

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,…

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…

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…

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…

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…

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,…