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Bakken News

Oil slump brings bargains, buyers to Bakken assets

As the oil price slump continues, investors are hunting for bargains on the hope they will eventually profit from the nation’s second largest oil play, reports the Wall Street Journal (WSJ). According to state data, hundreds of wells have been bought and sold in recent months. Those placing bets on long term profitability in the Bakken range from major O&G ...

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Zoning action delayed again on proposed $850M oil refinery

MEDORA, N.D. (AP) — Billings County leaders have once again delayed a decision on whether to approve an $850 million oil refinery on a 700-acre site only about 3 miles from Theodore Roosevelt National Park in western North Dakota. Houston-based Meridian Energy Group Inc. said the delay could prevent construction from starting this summer. Meridian plans a 55,000-barrel-per-day refinery between ...

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Iowa board votes to allow pipeline work to begin in state

DES MOINES, Iowa (AP) — A Texas company may begin construction on an oil pipeline in areas for which the company has approval but are not under federal jurisdiction, the Iowa Utilities Board said Monday despite opposition from environmental and citizen action organizations and landowners who are suing to stop the project. The three-member board voted 2-1 to approve an ...

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Top Bakken news stories – May 28 – June 3

Catch up on the news you missed last week with our weekly recap. Below are the top five articles that our readers found most engaging. Enjoy! 5. Interest in solar power soaring while utility seeks rate cut GREAT FALLS, Mont. (AP) — Interest in solar power is soaring in Montana because of the state’s sunny skies and profit potential. But NorthWestern Energy, ...

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Investment firm announces purchase of Colstrip operator

power plant, Talen Energy

HELENA, Mont. (AP) — A partial owner of Talen Energy Corp., which is the operator and a co-owner of Montana’s Colstrip power plant, is seeking to buy the entire company for $1.8 billion. Talen spokesman Todd Martin said Friday the planned acquisition by the investment firm Riverstone Holdings LLC will mean no immediate changes for Colstrip, whose future was already ...

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Iowa Utilities Board to meet Wednesday on pipeline project

DES MOINES, Iowa (AP) — The Iowa Utilities Board has called a meeting for Wednesday to consider allowing construction to begin on an oil pipeline in areas outside federal jurisdiction. Houston-based Dakota Access LLC wants to begin digging the Iowa portion of a 1,150-mile pipeline from North Dakota to Illinois. Construction has begun in North Dakota, South Dakota and Illinois ...

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