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Is it the beginning of the end for the Bakken?

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On March 1, 2017, petroleum geologist Art Berman wrote, “It’s the beginning of the end for the Bakken Shale play.” Berman gives several reasons why the Bakken oil fields will never return to its former glory. Here are the highlights: A decline in production that began January 2015. Berman says its “probably not reversible. New well performance has deteriorated. Gas-oil ...

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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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Dealogic reports record-breaking M&A deals

Bakken shale play

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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Two Marcellus, Utica area natural gas pipelines approved

European pipeline, Trans Adriatic pipeline

The executive order that gave TransCanada the go ahead to pursue completion of the Keystone XL Pipeline stole the spotlight from two smaller, but still substantial pipeline projects received approval from the Federal Energy Regulatory Commission (FERC). A TransCanada press release announced the approval for the construction of the Leach XPress and RayneXPress projects. Both will provide natural gas from the ...

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Movin’ on up! Rig count gains 18

oil rig, rig count, Baker Hughes

The Baker Hughes rig count showed another generous gain Friday. After a large jump last week, the number continues to climb. Of the 712 total, 566 are exploring for oil, 145 are exploring for gas, and 1 is labeled miscellaneous. Offshore, the rig count dropped by 3. The Permian Basin continues to stand out, claiming over half of the total ...

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Texas increases lead huge rig count jump

oil rig, rig count, Baker Hughes

It’s definitely not a little hop, or even a skip. This week’s rig count jump might even be classified as a huge leap of faith as reports across the industry indicate a the oil and gas industry is on the road to recovery. This week, large acquisitions–on by Exxon Mobil and another by Noble Energy–indicate further optimism that activity will ...

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Activity up, hiring increases in the Bakken

top 5 bakken stories of the week

Oil companies are hiring in the Bakken, and more jobs are expected to open up next year, according to the Bismarck Tribune today. Job Service North Dakota announced six oil companies are looking for workers to man fracking crews in the new year, said Cindy Sanford, customer service office manager of Job Service’s Williston branch. She said she couldn’t reveal ...

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Will Trump’s policies affect drilling or pipelines?

California oil field

The election of Donald Trump has thrilled many people across the West’s oil and gas industry who say his promises to roll back regulations will free it from unfair and unnecessary obstacles imposed by President Obama, including drilling in the Western part of the United States. As California “If the Trump administration does nothing but stop being hostile to us, we’ll ...

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Rig count jumps up 27

oil rig, rig count, Baker Hughes

Maybe it’s OPEC’s promise for production cuts, maybe it’s Donald Trump’s new staff appointments, or maybe there’s just some good vibes floating around in the air. No matter what the reason, cheers went up today when Baker Hughes released the weekly rig count, showing an increase of 27 rigs exploring for oil and natural gas this week. Even though the ...

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