Bakken Shale

Near-term domestic natural gas prices may struggle to gain momentum this year until there’s more evidence of stalling supply later this year, according to Jefferies LLC.

Bismarck, ND-based MDU Resources Group Inc. plans to keep Fidelity E&P Co., the exploration and production (E&P) unit, off the sales block this year and instead plans to work to strengthen its value, CEO David Goodin said.

Findlay, OH-based refiner/marketer Marathon Petroleum Corp. (MPC) is positioned to thrive in various oil price markets, and senior executives on Wednesday said they were anticipating continued growth this year, following strong increases in 2014.

Continental Resources Corp. said its proved reserves and production both grew in 2014 — by 25% and 28%, respectively — thanks in large part to the Bakken Shale and a legacy shale play the company has embraced in south-central Oklahoma.

Carbo Ceramics Inc.’s bottom line has been dinged significantly over the past year, and the proppant supplier has begun working with exploration and production (E&P) operators to optimize wells using new technologies, CEO Gary Kolstad said Thursday. However, in some areas, the completion rate is falling rapidly, he said.

Insulated by a top-notch balance sheet and long-term view of supply and demand, ExxonMobil Corp. boosted its U.S. onshore rig count by five in the Bakken and Woodford shales, and in the Permian Basin in the final three months of 2014, the investor relations chief disclosed Monday.

ConocoPhillips said its year-over-year (y/y) production from continuing operations, excluding Libya, grew 4% in 2014, fueled by growth from major projects, development programs and a 35% y/y increase in combined production from the Eagle Ford and Bakken shales.

Hess Corp. plans to spend 16% less this year than it did in 2014 for capital expenditures (capex), with most of the unconventional budget directed to Bakken Shale oil reserves and a slice for Utica Shale liquids.

Driven by the Bakken shale oil boom, the governor and state legislators in North Dakota early in their biennial budget-setting session are focused on transferring more than a billion dollars in added funding to the state’s major western counties and cities needing infrastructure improvements to keep pace with the oil-induced growth.