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Exclusives

Bill to encourage use of natural gas vehicles

North Dakota lawmakers have introduced a bill that will provide incentives to vehicles powered by natural gas and the required fueling stations, reports The Bismarck Tribune. If passed, House Bill 1446 would set aside $1 million for sharing the costs of the construction of natural gas fueling stations and $3 million for helping to convert vehicles to utilize natural gas ...

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Surge funding bill raised to $1.14 billion

North Dakota’s quest to provide expedited funding for oil patch communities and the development of lacking infrastructure took a leap forward last week when the amendment of a proposed bill pushed the price tag higher. The Forum News Service reports that one of the bills proposed in the legislature had originally planned to provide communities with more than $800 million ...

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Story of the wandering Kurdish tanker finally reaches a conclusion

The oil tanker filled with 1 million barrels of Kurdish crude is finally leaving the coast of Texas and is heading back across the Atlantic with all its cargo still aboard. A report from Bloomberg Businessesweek states that The United Kalavryta is heading to Gibraltar, the British territory on the southern tip of Spain. The ships operator, Kyriakos Maragoudakis, reiterated ...

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Boom goes the pipeline, again

natural gas explosion

On Monday morning another gas pipeline exploded, marking the fourth extreme accident involving a U.S. pipeline just this month. The gas pipeline in Brooke County, West Virginia, is owned by Enterprise Products LP.  Several eye witnesses stated all they could see was a massive fireball rocketing hundreds of feet in the air.  One witness told emergency dispatchers that the explosion ...

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Ridgetop Capital raises largest company fund for Marcellus, Utica shale property

Ridgetop Capital LLC has raised not only its sixth fund, but the largest fund to date to purchase mineral rights and land in the Marcellus and Utica shale plays. Confirmed by the Managing Partner Brad Carpenter, Ridgetop’s fund is subscribed at $200 million, which is 10 times larger than the $20 million fund the company completed last summer. Carpenter explained ...

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Hess cuts Bakken operated rigs, budget

Hess Corporation recently announced that the New York-based company is reducing its 2015 capital and exploratory budget and will cut the number of rigs operating in the Bakken formation by nearly half. The company plans to spend $4.7 billion this year, down 16 percent from the $5.6 billion spent last year. Of the total expenditures, $2.1 billion will be devoted ...

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New Orleans to host TMS conference amidst low oil prices

The oil and gas industry in Louisiana and the surrounding region will kick off February with the 3rd Tuscaloosa Marine Shale Development Summit and Exhibit in New Orleans. The conference, hosted by Information Forecast (Infocast), is slated for February 3-5. Infocast is one of the leading hosts of energy industry conferences, with five events set for February alone. Although low ...

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New federal offshore drilling plans are coming

The Obama administration’s new five-year offshore drilling plan is expected to be unveiled Tuesday, according to the Washington Examiner. Though the initial plan will be a draft, the final version will be effective starting in 2017 and apply through 2022. The plan is expected to address drilling in Alaska and the Atlantic Ocean. In particular, the Washington Examiner reports that ...

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Severance taxes disperse in Colorado

Severance taxes and energy royalties will provide more than $150.6 million for projects in Colorado, according to a recent Colorado Biz Journal article. Gov. John Hickenlooper announced Monday that $150,632,084 in grants will be awarded to 549 projects throughout the state. The funding, which was provided by the Energy and Mineral Impact Assistance Fund, comes from fees oil and gas ...

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BNSF to expand rail capacity in the Bakken

Burlington Northern Santa Fe Railway Company has announced its capital investment projects for the upcoming year and is reporting that the company will be investing approximately $1.5 billion into expansion and engineering projects, according to The Bakken Magazine. The projects, spanning across eight states in the company’s North Region, will add rail capacity and continue the company’s application of Positive ...

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