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Up, up and away! Rig count up another 3

oil rig, rig count, Baker Hughes

The Baker Hughes U.S. rig count continues to steadily climb, gaining another 3 rigs this week. A total of 602 rigs are exploring for oil, up 5 from last week, while gas rigs declined by 2. By state, Texas still leads the pack with 386 rigs, up 8 from last week. Alaska and Louisiana each lost two, while North Dakota ...

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ND House passes tax on private frack water suppliers

Shale boom leads US to first annual trade surplus with OPEC

In a move that defies all campaign promises, House Republicans voted to impose a newly invented tax on private businesses that provide water for the oil industry to frack oil, reports ND Watchdog Network’s Dustin Gawrylow today. Gawrylow says the Republican controlled House Appropriations Committee hid the tax increase in the Water Commission Budget, which is a “must pass bill.” ...

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Dealogic reports record-breaking M&A deals

M&A, Permian Basin

A couple of “mega-deals,” including a $17.2 billion takeover of ONEOK Partners by its parent firm, are part of a record-breaking quarter of M&A transactions that showed total oil and gas deals at the start of 2017 are four times what they were last year during the same time-frame, reports Dave Forest of Oiloprice.com. A recent report by M&A specialists ...

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Coal dominates in Texas as energy source

texas wind energy,

According to the Electric Reliability Council of Texas, coal was the number one energy source for Texas in January, reports FuelFix. Coal provided nearly 36 percent of Texas’ energy, followed by natural gas at 30 percent and wind energy at 20 percent. Natural gas prices increased in January, which led to higher demand for the cheaper coal. Typically, natural gas is the dominant ...

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Rig count continues to creep upward

oil rig, rig count, Baker Hughes

The U.S. rig count continues to creep back up slowly, up ten Feb. 17, 2017, according to the latest Baker Hughes report. The rig count has increased for 5 straight weeks, reaching 751. The U.S. added 6 rigs exploring for oil and 4 exploring for natural gas. The current oil rig count is 597, while gas rigs number 153. One ...

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Corps grants easement for Dakota Access pipeline

Dakota Access Pipeline, pipeline construction

The Army Corps of Engineers officially granted the coveted easement for completion of the Dakota Access pipeline on Wednesday. Only days after entering office, President Donald Trump issued an executive memorandum that provided clear directives for a swift revival of the $3.8 billion Dakota Access pipeline that would run from North Dakota’s Bakken oilfields to Illinois. Wednesday’s easement from the Corps ...

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North Dakota Energy Day at the Capitol

Energy Day at the Capitol

Are you curious about what lies ahead for the Bakken? How will world oil markets impact drilling and production in North Dakota? Energy Day brings the numbers to the State Capitol on March 7th from 10 am to 1 pm in the Brynhild Haugland Room. Four dynamic speakers will allow attendees to get a real glimpse of exactly how energy production ...

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Will OPEC continue to cut production?

Photo: Nick Taylor via Flickr.

Ten OPEC countries achieved 91 percent of their required cuts in January, according to an S & P Global Platts survey released on Monday. In the agreement signed last year, OPEC countries promised to cut 1.2 million b/d for six months and freeze production at 32.5 million b/d for six months in 2017. This includes production by Indonesia, whose OPEC membership is ...

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