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Exclusives

Goodrich plans startling 2015 budget amidst low oil prices

pump jack

Goodrich Petroleum Corp. has 99 problems, but low oil prices isn’t one. Goodrich released its capital expenditure budget for 2015, and it has some people scratching their heads. Over 95 percent of the $150-200 million budget is oil-directed and will go in its entirety to the development of the Tuscaloosa Marine Shale (TMS). According to the company’s press release, “costs ...

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And it begins-rig stacking

oil rigs

With oil prices still decreasing, companies in the Permian Basin have begun the process of cold stacking their rigs. The term “rig stacking” consists of two different methods.  “Cold stacking,” means the releasing or stopped drilling of a rig.  “Warm stacking,” refers to temporarily take a rig off the market.  During “warm stacking” rigs still maintain basic operations and are ...

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Denver oil and gas expo drawing big crowds

A cross between Wall Street and a farmer’s market is what Marty Schardt  is calling the North American Prospect Expo (NAPE), which is happening in Denver this week. The expo is expected to draw more than 2,200 oil and gas executives, according to the Denver Business Journal. This is the second year of the expo. The Denver expo is an ...

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ND counties raise housing loan limit

housing

As of Jan. 1 residents of the counties of Burleigh, McKenzie, Morton, Oliver, Sioux, Stark and Williams will be able to take out more money for FHA housing loans. Affordable housing has been an ongoing struggle in the western part of North Dakota, following an oil boom that has caused the population to increase exponentially an extreme amount. This increase ...

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“Williston is what it would look like if Halliburton tried to colonize the moon.”

Pump jack sunset

The oil boom in western North Dakota has fascinated the nation. A variety of news outlets have done pieces highlighting the economic phenomenon. Today Vox.com released an interesting, descriptive and unbiased picture of the oil boom in North Dakota. Its author, Libby Nelson, poses the question,“what will North Dakota do with its newfound wealth?” Along with this question, Nelson discusses the ...

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The Bay Area is in the dark

power

This morning, the Bay Area battled through an epic storm that left thousands without power. According to Pacific Gas and Electric (PG&E), the storm that rolled through knocked out power to nearly 7,000 customers in the Bay Area.  An estimated 3,000 people on the Peninsula were without power, and another 2,700 in the East Bay lost electricity.  An additional 1,200 ...

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Oil, saltwater spills in 3 locations

oil slick

Today the Department of Mineral Resources stated that there was a contained oil spill one mile north of Williston. A failed valve is the reported cause of the 400 barrel spill. The well, dubbed the M. Macklin 15-22 1H, is owned by Statoil Oil & Gas LP.  A state inspector will visit the site within the day. Last night the ...

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Strip clubs lose liquor license

strip clubs

At a meeting last night Williston Mayor Howard Klug and commissioners unanimously approved the suspension of the liquor licenses from both Whispers and Heartbreaker’s in downtown Williston. Both establishments are located on Williston’s main street downtown. They will lose their licenses for 60 days due to an increase in calls about the businesses. In 2013, the Williston Police Department received ...

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Body found in oilfield in South Midland

pump jack

Monday morning the Midland County Sheriff’s department was dispatched to an oil lease site where a male body was discovered. The sheriff’s department received the call from an oilfield worker who found the body at the foot of a pumpjack on the oil lease site on South County Road 1160. Investigators identified the body of 21-year-old Jonathan Brazell and ruled ...

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Chevron puts 2015 budget on hold, analysts expect cuts

Chevron has postponed the finalization of its capital spending plan for next year. According to Joe Carroll for Bloomberg, oil prices sit just above an excruciating 5-year low, causing Chevron to hit the pause button on its drilling budget plans for 2015. The oil giant isn’t the only major company to be reevaluating next year’s plans amid the oil slump. ...

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