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Bakken Shale

After Tough Start for Year, Crestwood’s Bakken System Sets Records in Fourth Quarter

After Tough Start for Year, Crestwood’s Bakken System Sets Records in Fourth Quarter

After a partial shut in during early 2020 amid reduced producer activity, Crestwood Equity Partners LP’s Arrow system in the Bakken Shale achieved record volumes in natural gas, crude and water in the final quarter of the year, with “a lot more activity” expected in 2021, according to management. “The Bakken play remains extremely economic…

March 2, 2021
Continental Forecasting Sixth Straight Year of Positive FCF as Oil Prices Strengthen

Continental Forecasting Sixth Straight Year of Positive FCF as Oil Prices Strengthen

Continental Resources Inc. expects to generate positive free cash flow (FCF) for a sixth straight year in 2021 amid an improving outlook for oil prices, according to management. During a Feb. 17 conference call to discuss the firm’s 2020 earnings, Executive Chairman Harold Hamm cited “unprecedented challenges” faced in 2020 due to the Covid-19 pandemic,…

February 28, 2021
North Dakota Hopes to Reduce Impact of Federal Lands Leasing Ban; Native American Exemption

North Dakota Hopes to Reduce Impact of Federal Lands Leasing Ban; Native American Exemption

An exemption for Native American lands in the Biden Administration’s executive order (EO) pausing new leasing on federal lands is “highly significant” for North Dakota’s Bakken Shale play, according to the state’s top oil and natural gas regulator. Biden’s order directed to the Interior Department’s (DOI) Bureau of Land Management “does not restrict energy activities…

February 18, 2021
EIA Models Falling Natural Gas Output from Seven Key U.S. Regions in March

EIA Models Falling Natural Gas Output from Seven Key U.S. Regions in March

Natural gas production from seven key U.S. shale plays is set to fall by a combined 560 MMcf/d from February to March as output from most major producing regions is expected to slow over the next month, according to the U.S. Energy Information Administration (EIA). Combined natural gas output from the Anadarko, Appalachian and Permian…

February 18, 2021
Natural Gas Production from Seven Key U.S. Shale Plays to Fall from February to March, EIA Says

Natural Gas Production from Seven Key U.S. Shale Plays to Fall from February to March, EIA Says

Natural gas production from seven key U.S. shale plays is set to fall by a combined 560 MMcf/d from February to March as output from most major producing regions is expected to slow over the next month, according to the U.S. Energy Information Administration (EIA). Combined natural gas output from the Anadarko, Appalachian and Permian…

February 17, 2021
Bakken Production Holding, But Winter Declines Expected Before Uptick

Bakken Production Holding, But Winter Declines Expected Before Uptick

End of 2020 statistics showed North Dakota’s Bakken Shale production holding relatively steady and other indicators, including oil prices, turning upward. But the state’s chief oil and natural gas official said production likely will drop for January and February. “The drilling rig count [15 as of last Friday] is substantially short of what we need…

February 16, 2021
Natural Gas Futures Take Back Seat to Cash as ‘Punishing’ Cold Drives Largest Increases ‘In Years’

Natural Gas Futures Take Back Seat to Cash as ‘Punishing’ Cold Drives Largest Increases ‘In Years’

Intraday natural gas price volatility was on full display midweek as traders assessed the impacts of a substantial, though likely temporary, decline in export demand and the potential for a more moderate end-of-February following some of the coldest weather in years. After tumbling to a $2.741/MMBtu intraday low, the March Nymex gas futures contract bounced…

February 10, 2021
Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor ASA, an enthusiastic buyer in the early days of the Lower 48 unconventional oil and gas revolution, has put the portfolio in reverse, with the Bakken Shale the latest to change hands. The Norwegian major said Wednesday it agreed to sell its North Dakota and Montana assets to EnCap Investments-backed Grayson Mill Energy for…

February 10, 2021
MDU Resources Sees More Utility Growth, RNG Interest

MDU Resources Sees More Utility Growth, RNG Interest

Bismarck, ND-based MDU Resources Group Inc. on Thursday reported record 2020 earnings across all of its businesses, including natural gas and power utilities in eight states. CEO David Goodin and senior executives said they expect continued growth in 2021 despite the Covid-19 pandemic as construction materials and services businesses accounted for nearly two-thirds of the…

February 6, 2021
Ovintiv to ‘Carefully Review’ Investor’s Board Nominees

Ovintiv to ‘Carefully Review’ Investor’s Board Nominees

Private investor Kimmeridge Energy Management Co., which owns a 2.5% stake in Ovintiv Inc., has nominated three people to stand for board election as Kimmeridge looks to upend oversight of the Denver-based independent. Earlier this month Kimmeridge warned Ovintiv that the exploration and production (E&P) company needed to improve performance or face a reckoning.  “Given…

January 28, 2021
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