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The top 5 Bakken stories of the week

Active rig count: 186 Saltwater spills: 0

1. Halliburton to purchase Baker Hughes

halliburton

The company logo of Halliburton oilfield services corporate offices is seen in Houston, Texas April 6, 2012. REUTERS/Richard Carson

Dow Jones reported today that Halliburton may buy Baker Hughes. The companies are two of the largest oil field service companies in the world. Prior to the announcement it has been stated that Baker Hughes is worth around $22 billion dollars. Halliburton has an estimated worth of $47 billion.  Both companies currently have declined to comment on the acquisition. Click here to read more.

2. Second Casselton derailment outrages officials

tracks

It is not surprising that officials like the Casselton county Sheriff and the town’s mayor are upset about the second derailment in under a year surrounding their city. This time there was no explosion, but the results could’ve been much more devastating than what transpired. Forum News Service reported that Lee Anderson, the mayor of Casselton, stated, “We dodged a bullet again,” and expressed his concern at the derailment, adding that he was “pleased that it happened out of town and didn’t cause any serious problems like it did last time.” Read more.

3. The next fast-food chain in Williston

culvers

Construction has begun on a Culver’s near the Buffalo Wild Wings on Reiger Dr. in Williston. The fast-food chain is based out of Wisconsin and specializes in ButterBurgers and frozen custard. This is the fourth Culvers to open in North Dakota and the first one in a boomtown. The founders of the chain hope to reach families working in western North Dakota. Read more.

4. Continental CEO Harold Hamm ordered to pay $995 million in divorce

Harold hamm Sue Ann

Image//Reuters

An Oklahoma County judge has ordered and Continental Resources Chief Executive Officer Harold Hamm to pay nearly $1 billion in a divorce judgment, according to a court filing made public on Monday.

In one of the highest value divorce judgments in U.S. history, Special Judge Howard Haralson found that oil magnate Hamm should pay his ex-wife Sue Ann Hamm a total of $995.5 million. Read more.

5. Hess sees strong output growth even with low oil price

oil rig

A nearly full moon sets behind the three oil pumps on one pad west of Watford City. Photo// Mike Kopp

Oil and gas producer Hess Corp boosted its five-year production forecast on Monday, shrugging off the recent sharp drop in oil prices and touting development of shale formations and deepwater wells.

The bullish forecast – executives said production could increase by double digits through the decade – sets an ambitious target and shows the company’s confidence that oil prices will rebound from their more than 25 percent drop since June. Read more.

 

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